- Analytics
- News and Tools
- Market News
- USD/CNH: Further side-lined trade remains on the table – UOB
USD/CNH: Further side-lined trade remains on the table – UOB
USD/CNH is expected to keep the current consolidative mood for the time being, note Economist Lee Sue Ann and Markets Strategist Quek Ser at UOB Group.
Key Quotes
24-hour view: We expected USD to trade in a range between 7.3170 and 7.3380 yesterday. However, USD traded in a much narrower range of 7.3201/7.3318. The price action still appears to be consolidative. Today, we expect USD to trade in a range of 7.3150/7.3350.
Next 1-3 weeks: Our latest narrative was from last Thursday (26 Oct, spot at 7.3260), wherein the recent buildup in downward momentum has faded, and USD is likely to trade in a range between 7.3050 and 7.3470 the time being. There is on change in our view.
© 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
