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- USD/CNH remains side-lined between 6.4350-6.4880 - UOB
USD/CNH remains side-lined between 6.4350-6.4880 - UOB
FXStreet reports that FX Strategists at UOB Group note that USD/CNH now looks to extend the consolidative mood within the 6.4350-6.4880 range in the next weeks.
24-hour view: “USD traded between 6.4593 and 6.4730 last Friday, narrower than our expected consolidation range of 6.4500/6.4730. The quiet price actions offer no fresh clues and further consolidation appears likely. Expected range for today, 6.4520/6.4700.”
Next 1-3 weeks: “...USD is still in a consolidation phase and could trade between 6.4350 and 6.4880 for a period of time.”
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