USD/CNH: No changes to the side-lined theme so far – UOB – by pabspiovano China Currencies Crosses Banks
remains tilted to the continuation of the 6.8500-6.9200 range in the near term, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “Our expectations for USD to test 6.9050 yesterday did not materialize as it traded in a range of 6.8748/6.8942 before settling at 6.8824 . Downward momentum has improved a tad and USD is likely to edge lower today. As downward momentum is mild for now, any decline is unlikely to challenge the major support at 6.8500 .
Next 1-3 weeks: “Our most recent narrative form Monday is still valid. As highlighted, the price actions of recent days appear to be consolidative and USD is likely to trade sideways between 6.8500 and 6.9200 for now.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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