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 for USD to drop below 7.2600 – UOB Group

Source Fxstreet

Scope for US Dollar (USD) to drop below 7.2600, but it might not be able to maintain a foothold below this level, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.

A break below 7.2600 may lead to 7.2400

24-HOUR VIEW: “Yesterday, we indicated that USD could rise to 7.2990 before the risk of a pullback increases. However, USD plummeted from a high of 7.2909, reaching a low of 7.2611. While the sharp and swift drop appears to be running ahead of itself, there is scope for USD to drop below 7.2600. However, oversold conditions suggest it might not be able to maintain a foothold below this level. The next support at 7.2500 is unlikely to come into view. Should USD break above 7.2800 (minor resistance is at 7.2745), it would mean that it is not declining further.”

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, as long as it remains below 7.2910.’ After USD rose to 7.2924, we highlighted yesterday (17 Jul, spot at 7.2900) that ‘downward momentum has faded, but while upward momentum has increased slightly, it is not enough to suggest a sustained advance.’ We expected USD to trade in a 7.2600/7.3100 range. We did not anticipate USD to fell sharply to a low of 7.2611. Downward momentum is building again, but USD must break and stay below 7.2600 before a decline to 7.2400 can be expected. The chance of USD breaking clearly below 7.2600 will remain intact provided that 7.2900 is not breached.”

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

Recommended Articles

Micron's $4.5 billion Taiwan fab won't make a chip until 2028 — the market sold it as a 2026 problem Micron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.

Author Irene Q.

Nov 06, Fri

Micron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.

Weekly Report: Gold up 4.5%, Brent down 16.4% — three commodity regimes just reset Gold rose 4.51% to $4,074.90 while Brent fell 16.42% to $98.32 in the same five sessions — two inflation hedges, opposite answers. Around them, the gold-silver ratio sits at 78.7 and copper fell 3.72%. Three regime signals, two of them close to flipping, define what commodity traders must re-price before Tuesday's CPI.

Author Irene Q.

Nov 09, Mon

Gold rose 4.51% to $4,074.90 while Brent fell 16.42% to $98.32 in the same five sessions — two inflation hedges, opposite answers. Around them, the gold-silver ratio sits at 78.7 and copper fell 3.72%. Three regime signals, two of them close to flipping, define what commodity traders must re-price before Tuesday's CPI.

The CPI that has no year-over-year number is the one that decides December October CPI lands on Nov 10 at 13:30 GMT, and it will be published without a year-over-year figure: BLS never collected October 2025 prices during the federal shutdown. Consensus is +0.3% headline and +0.2% core month-on-month, against +0.6% and +0.3% in September. With December hike odds at 77%, the month-on-month print is now the whole story, and $4,197–4,202 on gold and 4.86% on the 10-year are the levels that price it.

Author Irene Q.

Nov 09, Mon

October CPI lands on Nov 10 at 13:30 GMT, and it will be published without a year-over-year figure: BLS never collected October 2025 prices during the federal shutdown. Consensus is +0.3% headline and +0.2% core month-on-month, against +0.6% and +0.3% in September. With December hike odds at 77%, the month-on-month print is now the whole story, and $4,197–4,202 on gold and 4.86% on the 10-year are the levels that price it.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 10, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 10, 2026. Read on for the details.

Author Mitrade

Yesterday 01: 38

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 10, 2026. Read on for the details.

Nvidia fell 4.3% on a day the Nasdaq rose 2.7% — this is a governance discount, not an AI warning Nvidia closed at $178.67 on November 9, down 4.27% with an intraday low of $170.24, while the Nasdaq rose 2.74% and the Philadelphia Semiconductor Index jumped 6.85%. Volume was roughly 2.5 times the prior session. The board opened an independent review after CEO Jensen Huang's public statement about his personal life. With Q3 earnings on November 17, the two levels that matter are $170.24 and $200."

Author Irene Q.

Yesterday 03: 27

Nvidia closed at $178.67 on November 9, down 4.27% with an intraday low of $170.24, while the Nasdaq rose 2.74% and the Philadelphia Semiconductor Index jumped 6.85%. Volume was roughly 2.5 times the prior session. The board opened an independent review after CEO Jensen Huang's public statement about his personal life. With Q3 earnings on November 17, the two levels that matter are $170.24 and $200."

Popular Symbols