- Analytics
- News and Tools
- Market News
- USD/CNH risks a further retracement below 6.4240 - UOB
USD/CNH risks a further retracement below 6.4240 - UOB
FXStreet reports that UOB Group’s FX Strategists suggest that USD/CNH faces sustainable losses on a breach of 6.4240 in the next weeks.
24-hour view: “USD traded between 6.4415 and 6.4584 yesterday, narrower than our expected range of 6.4300/6.4600. The underlying tone has firmed somewhat and USD could edge higher to 6.4630. The next resistance at 6.4700 is unlikely to come into the picture. Support is at 6.4460 followed by 6.4400.”
Next 1-3 weeks: “... USD subsequently rebounded but as long as 6.4800 is intact, the risk of USD closing below 6.4240 is intact. A break of 6.4800 would indicate that USD could trade sideways within a broad range for a period of time.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
