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

After Upheaval in the World’s Largest Oil Reserve Holder, Who Will Emerge as the Biggest Winner in Venezuela’s Oil Market?US President Donald Trump announced late Tuesday that the interim Venezuelan authorities would deliver 30 million to 50 million barrels of crude oil to the United States.Trump posted on s

Author FXStreet

13 hours ago

US President Donald Trump announced late Tuesday that the interim Venezuelan authorities would deliver 30 million to 50 million barrels of crude oil to the United States.Trump posted on s

Bitcoin Encounters Major Sell Wall at $95K as BTC Underperforms Gold Bitcoin encounters resistance near $95,000, threatening its upward momentum despite weekly support at $93,500 holding strong.

Author Mitrade

15 hours ago

Bitcoin encounters resistance near $95,000, threatening its upward momentum despite weekly support at $93,500 holding strong.

Solana’s 2025 Review Flags Fresh Records Across Revenue, Wallet Activity and DEX Volume Solana’s 2025 annual review reports fresh all-time highs across app revenue, wallet activity and trading—highlighting $2.39 billion in app revenue, $1.5 trillion in DEX volume and $1.02 billion in ETF net inflows as SOL trades at $138.50, still 50% below its $293 peak.

Author Mitrade

17 hours ago

Solana’s 2025 annual review reports fresh all-time highs across app revenue, wallet activity and trading—highlighting $2.39 billion in app revenue, $1.5 trillion in DEX volume and $1.02 billion in ETF net inflows as SOL trades at $138.50, still 50% below its $293 peak.

Silver Price Analysis: XAG/USD explodes above $80 as rally extends Silver (XAG/USD) continues to rise parabolically, up more than 5%, trading above the $80.00 threshold a troy ounce, despite rising US Treasury yields and a strong US Dollar.

Author FXStreet

21 hours ago

Silver (XAG/USD) continues to rise parabolically, up more than 5%, trading above the $80.00 threshold a troy ounce, despite rising US Treasury yields and a strong US Dollar.

Silver Price Forecast: XAG/USD bulls look to build on momentum beyond $79.00 Silver (XAG/USD) builds on the previous day's positive move and gains strong follow-through traction for the second straight day on Tuesday.

Author FXStreet

Yesterday 10: 29

Silver (XAG/USD) builds on the previous day's positive move and gains strong follow-through traction for the second straight day on Tuesday.

Popular Symbols