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: Likely to trade sideways short term – UOB Group

Source Fxstreet

The US Dollar (USD) is likely to trade in a sideways range of 7.0650/7.0920. In the longer run, current price movements are likely part of a range trading phase; USD is likely to trade between 7.0300 and 7.1200, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

USD/CNH can break below 7.0650 mid term

24-HOUR VIEW: “We highlighted yesterday that USD ‘could rise to 7.1060 before the risk of a pullback increases.’ Our view did not materialise as it traded sideways between 7.0685 and 7.0955. Further sideways trading seems likely today, probably in a range of 7.0650/7.0920.”

1-3 WEEKS VIEW: “Our update from Wednesday (09 Oct, spot at 7.0750) remains valid. As highlighted, the current price movements are likely part of a range trading phase. For the time being, USD is expected to trade between 7.0300 and 7.1200.”

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.

The dollar weakened, equities dipped, and gold hit record highs The dollar weakened, equities fell, and gold set new records on Wednesday as investors waited for a Fed rate cut later in the day.

Author Cryptopolitan

Sep 17, 2025

The dollar weakened, equities fell, and gold set new records on Wednesday as investors waited for a Fed rate cut later in the day.

My Top 5 Stock Market Predictions for 2026 Five 2026 market predictions written in a native, news-style voice: AI’s winners and losers, broader sector leadership, dividend demand, valuation cooling as the Shiller CAPE sits at 39 (Dec. 31, 2025), and quantum-computing bursts—while keeping all original facts and numbers unchanged.

Author Mitrade

Jan 06, Tue

Five 2026 market predictions written in a native, news-style voice: AI’s winners and losers, broader sector leadership, dividend demand, valuation cooling as the Shiller CAPE sits at 39 (Dec. 31, 2025), and quantum-computing bursts—while keeping all original facts and numbers unchanged.

Gold rises as safe-haven demand increases on Iran war Gold price (XAU/USD) extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East.

Author FXStreet

Mar 05, Thu

Gold price (XAU/USD) extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East.

Gold slumps to near $5,050 on oil-driven inflation fears, stronger US Dollar Gold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.

Author FXStreet

Mar 09, Mon

Gold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.

Popular Symbols