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

New Fed Chair to Cut Forward Guidance? Warsh Rejects Dot-Plot Expectations, Bullish or Bearish for Bitcoin? If Warsh rejects dot plot projections, it could suppress institutional capital and weaken market risk appetite in the short term, but is a long-term positive for Bitcoin.On June 17, Asian

Author TradingKey

8 hours ago

If Warsh rejects dot plot projections, it could suppress institutional capital and weaken market risk appetite in the short term, but is a long-term positive for Bitcoin.On June 17, Asian

Three Major International Investment Banks Bearish on Oil Outlook, Citi Expects Brent to Fall to $70. Crude Oil Prices Fall for Four Straight Days to Levels at Start of US-Iraq War.On June 16, after US President Donald Trump sent consecutive signals of geopolitical easing, the two major crude oil benchmarks extended their recent declines and are poised to return to

Author TradingKey

16 hours ago

On June 16, after US President Donald Trump sent consecutive signals of geopolitical easing, the two major crude oil benchmarks extended their recent declines and are poised to return to

Japanese Yen hangs near intervention zone despite BoJ rate hike, ahead of FOMC The USD/JPY pair ticks lower during the Asian session on Wednesday, though it remains within striking distance of the highest level since late April, touched last week.

Author FXStreet

16 hours ago

The USD/JPY pair ticks lower during the Asian session on Wednesday, though it remains within striking distance of the highest level since late April, touched last week.

Has Gold Hit Bottom? Barclays, Citi Both Bullish on Gold, Gold Price Will Return to $5,000 Next Year.Since 2026, gold has erased almost all of its gains and has fallen more than 20% from its record high of $5,595 set at the end of January. Has gold bottomed out? Is now the time to add to

Author TradingKey

Yesterday 10: 30

Since 2026, gold has erased almost all of its gains and has fallen more than 20% from its record high of $5,595 set at the end of January. Has gold bottomed out? Is now the time to add to

WTI hovers around $80.00 as traders await developments on US-Iran peace talks West Texas Intermediate (WTI) oil price inches higher after registering 3.7% losses in the previous day, trading around $80.10 per barrel during the Asian hours on Tuesday.

Author FXStreet

Yesterday 01: 19

West Texas Intermediate (WTI) oil price inches higher after registering 3.7% losses in the previous day, trading around $80.10 per barrel during the Asian hours on Tuesday.

Popular Symbols