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

Cosmos Hub founder plans fork, ATOM holders may receive token airdrop The founder of Cosmos announced plans to fork Cosmos Hub and build a new chain AtomOne, and new ATOM1 tokens will be awarded to ATOM stakers in proportion to their amount.

Author FXStreet

Nov 27, 2023

The founder of Cosmos announced plans to fork Cosmos Hub and build a new chain AtomOne, and new ATOM1 tokens will be awarded to ATOM stakers in proportion to their amount.

Microstrategy outperforms Warren Buffet’s Berkshire Hathaway by the largest margin since the dot-com bubble Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.

Author Cryptopolitan

Nov 18, 2024

Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.

Bitcoin Eyes $124,000 As Golden Ratio Signals More Gains Ahead – Details Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model.

Author FXStreet

Apr 28, 2025

Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model.

Japanese Yen rises on strong data, USD pressured by Fed rate cut bets ahead of US NFP The Japanese Yen (JPY) strengthened against its American counterpart during the Asian session on Friday in response to upbeat domestic data.

Author FXStreet

Sep 05, 2025

The Japanese Yen (JPY) strengthened against its American counterpart during the Asian session on Friday in response to upbeat domestic data.

Gold gains momentum above $4,100 after weak US NFP data Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls ‌(NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.

Author FXStreet

Jul 03, Fri

Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls ‌(NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.

Popular Symbols