Market news
08.07.2021, 11:18

USD/CNH stays focused on 6.4900 - UOB

FXStreet reports that FX Strategists at UOB Group suggest that the upward momentum could push USD/CNH to the 6.4900 level in the next weeks.

24-hour view: “Our expectation for USD to ‘strengthen further’ did not materialize as it traded between 6.4650 and 6.4829 before closing little changed at 6.4753 (-0.02%). The outlook for today is mixed and USD could trade sideways within a 6.4670/6.4870 range.”

Next 1-3 weeks: “While there is no change in our view for now, USD has not been able to make much headway on the upside as it traded within a 6.4650/6.4829 range before closing little change at 6.4753 (-0.02%). We continue to expect USD to trade higher for now and only a breach of 6.4640 would indicate that the current upward pressure has eased.”


© 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 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.

Feedback
Live Chat E-mail
Up
Choose your language / location