USD/CNH is expected to consolidate between 7.1200 and 7.1380 – UOB Group
Source Fxstreet
US Dollar (USD) is expected to consolidate between 7.1200 and 7.1380. In the longer run, for the time being, USD is likely to trade in a range between 7.1000 and 7.1480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD is likely to trade in a range
24-HOUR VIEW: "Yesterday, we expected USD to 'consolidate between 7.1210 and 7.1380.' USD subsequently traded in a range of 7.1230/7.1394, closing largely unchanged at 7.1273 (-0.02%). Momentum indicators are mostly flat, and we continue to expect consolidation today, most likely between 7.1200 and 7.1400."
1-3 WEEKS VIEW: "Our update from two days ago (30 Sep, spot at 7.1275) remains valid. As highlighted, 'the current price movements are likely part of a range-trading phase between 7.1000 and 7.1480'."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Gold (XAU/USD) continues scaling new record highs during the Asian session on Tuesday and climbs beyond the $3,250 level amid a supportive fundamental backdrop.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain muted as the broader cryptocurrency market recovers.
