- Analytics
- News and Tools
- Market News
- USD/CNH moved into a consolidative phase – UOB
USD/CNH moved into a consolidative phase – UOB
In the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, USD/CNH is now expected to navigate between 6.7200 and 6.8550 in the next few weeks.
Key Quotes
24-hour view: “Our view for USD to ‘trade in a range’ yesterday was incorrect as it soared to a high of 6.7900 before closing at 6.7700 (+0.35%). While upward momentum has not improved much, USD could advance to 6.8000 before the likelihood of a pullback increases. The next resistance at 6.8350 is unlikely to come into view. Support is at 6.7600, followed by 6.7400.”
Next 1-3 weeks: “We have held a negative USD view for more than a week now. Yesterday (17 Jan, spot at 6.7400), we highlighted that downward momentum is beginning to ease and a break of 6.7580 would indicate that the weakness in USD has stabilized. USD subsequently soared to a high of 6.7900. The price actions suggest USD has entered a consolidation phase and will likely trade between 6.7205 and 6.8550 for the time being.”
© 2000-2025. 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
