Market news
25.11.2021, 11:06

USD/CNH keeps the constructive note unchanged – UOB

UOB Group’s FX Strategists suggested USD/CNH could edge higher and visit the 6.4070 level in the next weeks.

Key Quotes

24-hour view: “USD traded between 6.3867 and 6.3984 yesterday, narrower than our expected sideway-trading range of 6.3800/6.4000. The underlying tone has improved somewhat and the bias for today is on the upside. A break of 6.4000 is not ruled but the major resistance at 6.4070 is unlikely to come under threat. Support is at 6.3890 followed by 6.3840.”

Next 1-3 weeks: “We have held the same view since Monday (22 Nov, spot at 6.3920) where ‘shorter-term momentum is beginning to build but any advance in USD is expected to face solid resistance at 6.4070’. However, USD has not been able to make any headway on the upside. That said, the underlying tone still appears to be a tad firm and we see chance for USD to edge higher to 6.4070. On the downside, a breach of 6.3750 would indicate that the current mild upward pressure has dissipated.”

© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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 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

Live Chat E-mail
Choose your language / location