Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

USD/CNH: Unlikely to break the support at 6.9520 – UOB Group

Source Fxstreet

US Dollar (USD) could edge lower but is unlikely to break the support at 6.9520. In the longer run, USD remains neutral but is now expected to trade in a lower range of 6.9520/6.9900, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.

USD/CNH is expected to trade in a lower range of 6.9520/6.9900

24-HOUR VIEW: "We expected USD to 'trade in a range between 6.9650 and 6.9770' yesterday. However, after rising to 6.9738, USD dropped to a low of 6.9614. The decline has resulted in a slight increase in downward momentum. Today, USD could edge lower, but it is unlikely to break the support at 6.9520. On the upside, resistance levels are at 6.9680 and 6.9750."

1-3 WEEKS VIEW: "We have held a neutral USD view since last week. In our latest narrative from Tuesday (13 Jan, spot at 6.9710), we stated that USD 'remains neutral but is now expected to trade in a lower range of 6.9520/6.9900'. Our view remains unchanged."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US Dollar's Decline Predicted in 2026: Morgan Stanley's Outlook on Currency Volatility Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.

Author Mitrade

Nov 25, 2025

Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.

XRP Drops 5% After Being Hailed as 2026’s “Hottest Trade”XRP fell back to $2.18 after failing to hold above $2.28, cooling off an early-2026 rally that had been strong enough to earn the token the label of “new cryptocurrency darling” in a recent CNBC segment. The pullback underscores that even strong bullish narratives must contend with significant overhead supply at key technical resistance levels.

Author Mitrade

Jan 08, Thu

XRP fell back to $2.18 after failing to hold above $2.28, cooling off an early-2026 rally that had been strong enough to earn the token the label of “new cryptocurrency darling” in a recent CNBC segment. The pullback underscores that even strong bullish narratives must contend with significant overhead supply at key technical resistance levels.

Gold Prices Soar to Record High Amid Disappointing U.S. Jobs Data and Geopolitical Tensions Gold prices surged to a record $4,601.17 per ounce as weaker-than-expected U.S. payroll data heightened expectations for Federal Reserve interest rate cuts. Ongoing geopolitical tensions in the Middle East and Venezuela further supported the metal's appeal as a safe haven.

Author Mitrade

Jan 12, Mon

Gold prices surged to a record $4,601.17 per ounce as weaker-than-expected U.S. payroll data heightened expectations for Federal Reserve interest rate cuts. Ongoing geopolitical tensions in the Middle East and Venezuela further supported the metal's appeal as a safe haven.

Gold, Silver Hit Records as Fed Independence Fears, Iran Unrest Fuel Haven Rush Gold and silver surged to all-time highs on Monday, propelled by mounting concerns over Federal Reserve independence after the U.S. Justice Department threatened a criminal indictment against the central bank, alongside escalating geopolitical tensions as protests in Iran intensified.

Author Mitrade

Jan 12, Mon

Gold and silver surged to all-time highs on Monday, propelled by mounting concerns over Federal Reserve independence after the U.S. Justice Department threatened a criminal indictment against the central bank, alongside escalating geopolitical tensions as protests in Iran intensified.

Bitcoin Tops $95,000 Amid Two-Month High, but U.S. Demand Lags Behind Global Rally Bitcoin prices climbed above $95,000 on Tuesday, reaching their highest level in two months. However, a key market indicator suggests U.S. investor participation in the rally has been noticeably weaker compared to overseas demand.

Author Mitrade

Jan 14, Wed

Bitcoin prices climbed above $95,000 on Tuesday, reaching their highest level in two months. However, a key market indicator suggests U.S. investor participation in the rally has been noticeably weaker compared to overseas demand.

Popular Symbols