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: Bulls can’t wait to test 7.1900 – UOB Group

Source Fxstreet

The US Dollar (USD) is likely to trade in a sideways range of 7.1620/7.1900. Downward momentum is fading, and the likelihood of USD revisiting the 7.0635 support level has diminished, UOB Group FX analysts Quek Ser Leang and Peter Chia note.

A break above 7.1900 is possible near term

24-HOUR VIEW: “USD traded in a sideways range of 7.1639/7.1895 last Friday, closing largely unchanged at 7.1750 (+0.01%). Further sideways range trading seems likely today, probably in a range of 7.1620/7.1900.”

1-3 WEEKS VIEW: “We have held a negative USD view since late last month. After USD fell sharply to 7.0636 and rebounded, in our most recent narrative from last Tuesday (06 Aug, spot at 7.1400), we highlighted that while further USD weakness is not ruled out, the low near 7.0635 is solid support now. We added, ‘a breach of 7.2000 would mean that the weakness has stabilised.’ USD subsequently traded sideways for a few days, and downward momentum is fading. The likelihood of USD breaking below 7.0635 has diminished.”

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

Recommended Articles

Gold Price Forecast: PCE Data Weakens Fed Rate Hike Expectations, Can Gold Price Hold Steady at $4,000?As of today's Asian session (June 26), gold ( XAUUSD) prices fluctuated near $4,010. Yesterday, gold rebounded following the release of the PCE data, and market sentiment improved signifi

Author TradingKey

8 hours ago

As of today's Asian session (June 26), gold ( XAUUSD) prices fluctuated near $4,010. Yesterday, gold rebounded following the release of the PCE data, and market sentiment improved signifi

Australian Dollar edges lower to near 0.6900 on Fed hike bets The AUD/USD pair edges lower to around 0.6900 during the Asian trading hours on Friday. The US Dollar (USD) strengthens against the Australian Dollar (AUD) on the expectation of US rate hikes later this year.

Author FXStreet

17 hours ago

The AUD/USD pair edges lower to around 0.6900 during the Asian trading hours on Friday. The US Dollar (USD) strengthens against the Australian Dollar (AUD) on the expectation of US rate hikes later this year.

Gold Price Forecast: Gold Price Falls Below $4,000, PCE Data May Push Gold Down to $3,900 As of today (June 25) during the Asian session, gold ( XAUUSD) was last priced at $3,976.90, down 0.54% on the day. After gold prices fell below $4,000 yesterday, they fluctuated around $

Author TradingKey

Yesterday 08: 52

As of today (June 25) during the Asian session, gold ( XAUUSD) was last priced at $3,976.90, down 0.54% on the day. After gold prices fell below $4,000 yesterday, they fluctuated around $

Crypto market sheds over 50% of its value amid Bitcoin's brief decline below $60K The crypto market has erased more than half of its value since reaching an all-time high in late 2025. The decline underscores the severity of the recent bear market and lack of a fresh catalyst to revive investor interest, according to a Wednesday X post by The Kobeissi Letter.

Author FXStreet

Yesterday 01: 47

The crypto market has erased more than half of its value since reaching an all-time high in late 2025. The decline underscores the severity of the recent bear market and lack of a fresh catalyst to revive investor interest, according to a Wednesday X post by The Kobeissi Letter.

Gold Price Trend Forecast: Gold Price Risks Falling Below $4,000, PCE Data Is Key As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter

Author TradingKey

Jun 24, Wed

As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter

Popular Symbols