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: Scope to test 7.2850 – UOB Group

Source Fxstreet

The US Dollar (USD) is likely to trade in a sideways range of 7.2650/7.2850 and, ultimately, with a downward bias towards 7.2400, UOB Group FX strategists Quek Ser Leang and Lee Sue Ann note.

USD may test 7.2850 in the short run

24-HOUR VIEW: “We highlighted yesterday that ‘the risk is for USD rising today, but any advance is expected to face strong resistance at 7.2910.’ Our expectations did not quite materialise, as after rising to 7.2862, USD pulled back to close at 7.2740 ( 0.04%). The current price movements are likely part of a sideways trading phase. Today, USD is likely to trade in a range of 7.2650/7.2850.”

1-3 WEEKS VIEW: “Last Friday (12 Jul, spot at 7.2685), we indicated that USD ‘is likely to trade with a downward bias towards 7.2400.’ We highlighted that ‘the downward bias is intact as long as USD remains below 7.2910.’ There is no chance in our view.

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

Recommended Articles

USD/JPY trades cautiously positive around 144.00 ahead of key US data The USD/JPY pair edges higher to near 143.90 during European trading hours on Thursday. The pair trades cautiously higher as the US Dollar (USD) ticks up ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.

Author FXStreet

Jul 03, 2025

The USD/JPY pair edges higher to near 143.90 during European trading hours on Thursday. The pair trades cautiously higher as the US Dollar (USD) ticks up ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.

Gold price fills opening gap amid subdued USD demand; bulls still seem reluctant Gold price attracts some buyers near the $3,312-3,311 region during the Asian session on Monday and fills a modest bearish gap opening amid subdued USD price action.

Author FXStreet

Jul 28, 2025

Gold price attracts some buyers near the $3,312-3,311 region during the Asian session on Monday and fills a modest bearish gap opening amid subdued USD price action.

Gold edges higher as Fed rate cut bets undermine USD ahead of NFP data Gold (XAU/USD) edges higher during the Asian session on Friday and looks to build on the overnight bounce from the vicinity of the $3,500 psychological mark.

Author FXStreet

Sep 05, 2025

Gold (XAU/USD) edges higher during the Asian session on Friday and looks to build on the overnight bounce from the vicinity of the $3,500 psychological mark.

Silver Price Forecast: XAG/USD dips to near $72.50 as CME raises margins Silver price (XAG/USD) has lost its nearly a 4.5% gain registered in the previous session, trading around $72.50 during the Asian hours on Wednesday.

Author FXStreet

Dec 31, 2025

Silver price (XAG/USD) has lost its nearly a 4.5% gain registered in the previous session, trading around $72.50 during the Asian hours on Wednesday.

When is the US President Trump’s speech at WEF in Davos and how could it affect EUR/USD United States (US) President Donald Trump is scheduled to deliver his speech at the World Economic Forum (WEF) in Davos after 13:00 GMT. Trump’s trip to Davos was delayed after Air Force One was forced to turn around due to a "minor electrical issue".

Author FXStreet

Jan 21, Wed

United States (US) President Donald Trump is scheduled to deliver his speech at the World Economic Forum (WEF) in Davos after 13:00 GMT. Trump’s trip to Davos was delayed after Air Force One was forced to turn around due to a "minor electrical issue".

Popular Symbols