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

Gold Price Forecast: U.S.-Iran Negotiations Face Uncertainties, Gold May Fall Below $4,400 During the Asian session on May 26, gold prices ( XAUUSD) weakened under pressure after briefly touching the $4,580 resistance level, maintaining a weak trend intraday and potentially ent

Author TradingKey

13 hours ago

During the Asian session on May 26, gold prices ( XAUUSD) weakened under pressure after briefly touching the $4,580 resistance level, maintaining a weak trend intraday and potentially ent

Gold edges higher above $4,550 on US-Iran peace optimism Gold price (XAU/USD) gains ground to near $4,575 during the early Asian session on Tuesday. The precious metal edges higher as hopes for US-Iran peace negotiations weakened the US Dollar (USD).

Author FXStreet

20 hours ago

Gold price (XAU/USD) gains ground to near $4,575 during the early Asian session on Tuesday. The precious metal edges higher as hopes for US-Iran peace negotiations weakened the US Dollar (USD).

Forex Today: Risk flows dominate markets on US-Iran deal hopes Here is what you need to know on Monday, May 25:

Author FXStreet

Yesterday 09: 45

Here is what you need to know on Monday, May 25:

Silver Price Forecast: XAG/USD holds gains near $78.50 on US-Iran deal optimism Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday.

Author FXStreet

Yesterday 01: 26

Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday.

Gold Price Forecast: XAU/USD keeps looking for direction above $4,500 Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.

Author FXStreet

May 22, Fri

Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.

Popular Symbols