The US Dollar (USD) is likely to trade in a range, probably between 146.00 and 147.40. In the longer run, boost in momentum suggests USD could rise further to 148.00, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
USD could rise further to 148.00 mid term
24-HOUR VIEW: “After USD soared two days ago, we indicated yesterday that USD ‘is likely to continue to rise.’ We highlighted that ‘resistance levels are at 147.20 and 148.00.’ However, we pointed out that ‘the latter level is probably out of reach for now.’ Our view was not wrong, as USD rose to 147.24, closing at 146.92 (0.31%). Overbought conditions, combined with early signs of slowing momentum suggest USD is unlikely to advance much further. Today, USD is more likely to trade in a range, probably between 146.00 and 147.40.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.