USD/CNH: A downward bias towards 7.0500 – UOB Group
Source Fxstreet
The US Dollar (USD) is likely to trade with a downward bias towards 7.0500, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
USD to trade towards 7.0500
24-HOUR VIEW: “Our view for USD to trade in a 7.0850/7.1150 range was incorrect, as it rose to 7.1133 and then plummeted to 7.0601. While the sharp drop appears to be running ahead of itself, there is scope for USD to break below 7.0600 today. The next support 7.0500 is unlikely to come into view. Resistance levels are at 7.0800 and 7.0970.”
1-3 WEEKS VIEW: “On Tuesday (17 Sep, spot at 7.1005), we indicated that USD ‘is likely to trade in a sideways range of 7.0700/7.1300.’ Yesterday, USD fell and broke below 7.0700, reaching a low of 7.0601. Downward momentum has increased, albeit not much. From here, provided that USD remain 7.1100, we expect USD to trade with a downward bias towards 7.0500.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP Look for a Foothold After a Sharp ShakeoutBitcoin trades near $92,600 after a dip below $90,000, while Ethereum around $3,118 and XRP near $2.21–$2.23 sit on key support zones, as BTC, ETH and XRP all try to turn a sharp correction into a tradable rebound rather than a deeper slide.
Bitcoin trades near $92,600 after a dip below $90,000, while Ethereum around $3,118 and XRP near $2.21–$2.23 sit on key support zones, as BTC, ETH and XRP all try to turn a sharp correction into a tradable rebound rather than a deeper slide.
Could XRP Really Catch Ethereum? Analysts Revisit the Question as ETF Tailwinds BuildAs US spot XRP ETFs roll out and issuers like Canary Capital and Franklin Templeton step in, analysts say XRP’s market cap could climb on growing utility and ETF accumulation—but overtaking Ethereum’s $373 billion smart-contract powerhouse remains a long-shot, at least for now.
As US spot XRP ETFs roll out and issuers like Canary Capital and Franklin Templeton step in, analysts say XRP’s market cap could climb on growing utility and ETF accumulation—but overtaking Ethereum’s $373 billion smart-contract powerhouse remains a long-shot, at least for now.
Bitcoin's volatility is surging, suggesting a shift back to options-driven price action seen before Bitcoin ETFs were launched.
2025 Black Friday is coming! Which stocks may see volatility?Coming on the day right after Thanksgiving in the United States, Back Friday marks the start of the holiday shopping season. Sales data from this shopping frenzy day reflects investor confidence and consumer trends.
The National Retail Federation (NRF) predicts that holiday season (Nov and Dec) retail sales in 2025 will likely exceed $1 trillion for the very first time, which represents a year-over-year increase of 3.7 to 4.2 percent.
Historic data from the past decade show that the retail sector has generally outperformed the S&P 500 during the weeks before and after Black Friday.
The following retailing companies are expected to be big winners:
Coming on the day right after Thanksgiving in the United States, Back Friday marks the start of the holiday shopping season. Sales data from this shopping frenzy day reflects investor confidence and consumer trends.
The National Retail Federation (NRF) predicts that holiday season (Nov and Dec) retail sales in 2025 will likely exceed $1 trillion for the very first time, which represents a year-over-year increase of 3.7 to 4.2 percent.
Historic data from the past decade show that the retail sector has generally outperformed the S&P 500 during the weeks before and after Black Friday.
The following retailing companies are expected to be big winners:
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP Attempt Recovery Post-SelloffBitcoin trades back above $87,700 after a 20% drop, while Ethereum rebounds from support around $2,749 and XRP recovers above $2.08 off its $1.96 floor, as BTC, ETH and XRP all try to turn last week’s steep correction into the start of a broader recovery.
Bitcoin trades back above $87,700 after a 20% drop, while Ethereum rebounds from support around $2,749 and XRP recovers above $2.08 off its $1.96 floor, as BTC, ETH and XRP all try to turn last week’s steep correction into the start of a broader recovery.
