- Analytics
- News and Tools
- Market News
- USD/CNH faces extra consolidation near term – UOB
USD/CNH faces extra consolidation near term – UOB
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang see USD/CNH navigating within the 7.2800-7.3400 range in the next few weeks.
Key Quotes
24-hour view: Yesterday, we held the view that USD “is likely to rise, but it is unlikely to reach 7.3400.” Our view did materialise as it traded in a relatively quiet manner between 7.3045 and 7.3215. The price action appears to be consolidative, and USD is likely to trade sideways. Expected range for today; 7.3000/7.3250.
Next 1-3 weeks: We continue to hold the same view as yesterday (21 Sep, spot at 7.3150), wherein the recent downward pressure has faded, and USD is likely to trade in a range, probably between 7.2800 and 7.3400.
© 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
