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USD/CNH: THE STRONG RESISTANCE MOVES TO 7.1460 – UOB GROUP

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The ‘strong resistance’ level for the US Dollar (USD) has moved lower to 7.1460 from 7.1750, UOB Group FX strategists Quek Ser Leang and Lee Sue Ann note.

USD may try to come back to 7.1460

24-HOUR VIEW: “USD plummeted last Friday, and it continues to decline today. While oversold, USD could drop further towards 7.0900 before stabilisation can be expected. The next support at 7.0636 is unlikely to come into view. Resistance levels are at 7.1200 and 7.1300.”



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