Market news
22.06.2021, 09:40

USD/CNH could be headed towards the 6.5000 region – UOB

FXStreet reports that according to FX Strategists at UOB Group, USD/CNH’s upside momentum could extend to the 6.5000 area in the next weeks.

Next 1-3 weeks: “We have expected a stronger USD since early last week. In our latest narrative from last Friday, we indicated upward momentum is stronger than expected and the ‘next level to focus on above 6.4660 is at 6.4800’. Our view was not wrong as USD soared to within one pip of 6.4800 yesterday (high of 6.4799). The next resistance above 6.4800 is at 6.4930 but in view of the overbought conditions, this level may not come into the picture so soon. The upside risk is deemed intact as long as USD does not move below 6.4400 (‘strong support’ level was at 6.4270 yesterday).”

© 2000-2022. 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