- Analytics
- News and Tools
- Market News
- USD/CNH expected to keep the current consolidation – UOB
USD/CNH expected to keep the current consolidation – UOB
In the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, USD/CNH should maintain the consolidative mood in the short-term horizon.
Key Quotes
24-hour view: Yesterday, we held the view that USD could test the resistance at 7.2800 before a pullback is likely. However, USD did not quite test 7.2800 as it traded between 7.2425 and 7.2734. The current price actions are likely part of a consolidation phase and today, we expect USD to trade in a range of 7.2400/7.2700.
Next 1-3 weeks: There is no change in our view from Wednesday (05 Jul, spot at 7.2280). As highlighted, the recent USD strength has ended USD is likely to trade in a range 7.1800/7.2800 for now.
© 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
