USD/CNH: To trade in a sideways range of 7.0700/7.1300 – UOB Group
Source Fxstreet
The US Dollar (USD) is likely to trade in a sideways range of 7.0700/7.1300, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
Rangebound for the time being
24-HOUR VIEW: “Yesterday, we expected USD to trade in a range between 7.0900 and 7.1100 USD subsequently traded in a slightly higher range of 7.0928/7.1118. The price movements did not result in any increase in either downward or upward momentum. Today, we continue to expect USD to trade in a range, likely between 7.0910 and 7.1110.”
1-3 WEEKS VIEW: “Our update from yesterday (17 Sep, spot at 7.1005) remains valid. As highlighted, momentum indicators are mostly neutral, and USD is likely to trade in a sideways range of 7.0700/7.1300.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As one of the most traded currency pair in the forex markets, the price of EURUSD affects many traders. Check out our EURUSD long-term forecast for more information.
The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
The Japanese Yen (JPY) rallied to the highest level since early February against its American counterpart on Friday amid bets for an imminent shift in the Bank of Japan's (BoJ) policy stance.
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Larry Fink, the founder and Chief Executive Officer (CEO) of BlackRock, the world’s largest asset manager, has admitted to being wrong about his previous views on Bitcoin.
