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: 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

Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.

Author Beincrypto

Dec 17, 2024

Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.

Pi Network Price Annual Forecast: PI Heads Into a Volatile 2026 as Utility Questions Collide With Big Unlocks Pi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.

Author Mitrade

Dec 19, 2025

Pi Network heads into 2026 after a 90%+ 2025 drawdown from $3.00, with 17.5 million KYC users and a smart-contract-focused Stellar v23 upgrade offering upside potential, but 1.21 billion tokens unlocking and heavy exchange deposits (437 million PI) keeping supply pressure and trust risks firmly in focus.

Markets in 2026: Will gold, Bitcoin, and the U.S. dollar make history again? — These are how leading institutions think After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?

Author Insights

Dec 25, 2025

After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?

Japanese Yen weakens as GDP miss tempers BoJ rate hike bets; USD/JPY retakes 153.00 The USD/JPY pair attracts some buyers during the Asian session on Monday and climbs back above the 153.00 mark following the disappointing release of Japan's Q4 GDP report.

Author FXStreet

22 hours ago

The USD/JPY pair attracts some buyers during the Asian session on Monday and climbs back above the 153.00 mark following the disappointing release of Japan's Q4 GDP report.

Gold slides below $5,000 amid USD uptick and positive risk tone; downside seems limited Gold (XAU/USD) attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels.

Author FXStreet

17 hours ago

Gold (XAU/USD) attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels.

Popular Symbols