USD/CNH: Likely to trade between 7.0300 and 7.1200 – UOB Group
The US Dollar (USD) could rise to 7.1060 before the risk of a pullback increases. In the longer run, current price movements are likely part of a range trading phase; USD is likely to trade between 7.0300 and 7.1200, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
USD can rise to 7.1060 before pulling back
24-HOUR VIEW: “We expected USD to trade in a 7.0530/7.0930 range yesterday. USD subsequently dipped to 7.0543 before rising to 7.0981. USD close at 7.0929 ( 0.26%). The advance has resulted in a slight increase in momentum. Today, USD could rise to 7.1060 before the risk of a pullback increases. Support is at 7.0830, followed by 7.0700.”
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.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.