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

Technical Analysis

USD/CNH: To trade sideways within a range of 7.2750/7.2910 – UOB Group

Source Fxstreet

The US Dollar (USD) is likely to trade in a sideways range of 7.2750/7.2910. Resistance levels to watch are 7.3000 and 7.3100, UOB Group analysts note.

Resistance lies at 7.3000 and 7.3100

24-HOUR VIEW: “We indicated yesterday that USD ‘could continue to trade sideways, likely in a range of 7.2850/7.2950.’ USD then traded in a wider range than expected (7.2771/7.2937), closing slightly lower by 0.12% at 7.2830. The price movements still appear to be part of a sideways trading phase. That said, the slightly softened underlying tone suggests USD is likely to trade in a lower range of 7.2750/7.2910.”

1-3 WEEKS VIEW: “We have expected USD to strengthen since early last week. In our latest update from last Friday (21 Jun, spot at 7.2920), we indicated that ‘further USD strength is likely, and the resistance levels to watch are 7.3000 and 7.3100.’ Yesterday, USD eked out a fresh high of 7.2937 before pulling back. There has been a slight slowdown in momentum, but only a breach of 7.2700 (no change in ‘strong support’ level) would mean that USD is not strengthening further.”

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

Recommended Articles

Have Fed Rate Hike Headwinds Been Priced In? Gold Rebounds Strongly Toward $4,400, Poised for a New Rally As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

Author TradingKey

12 hours ago

As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

14 hours ago

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

20 hours ago

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Crude Oil Price Forecast: Can Brent Hold $100 Amid Hawkish Fed Rate Hikes and Easing Supply Concerns? International oil prices continued to fall after the Federal Reserve resumed rate hikes in September. On Wednesday, WTI crude dropped 3.28% to settle at $102.02 per barrel; Brent crude fe

Author TradingKey

Yesterday 09: 59

International oil prices continued to fall after the Federal Reserve resumed rate hikes in September. On Wednesday, WTI crude dropped 3.28% to settle at $102.02 per barrel; Brent crude fe

Dow drops 631 points as the Fed hikes — but futures are rebounding: what's next for US stocks?The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Author Irene Q.

Yesterday 02: 54

The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Popular Symbols