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

Nvidia 2026 Shareholder Meeting Preview: Can Stock Price Hit New Highs? How Blackwell, Vera Production Ramps Will Determine Future Revenue?This Wednesday (June 24), NVIDIA (NVDA) will hold its 2026 annual meeting of stockholders online. The focus of this meeting will be the production ramp-up of Blackwell and the brand-new V

Author TradingKey

8 hours ago

This Wednesday (June 24), NVIDIA (NVDA) will hold its 2026 annual meeting of stockholders online. The focus of this meeting will be the production ramp-up of Blackwell and the brand-new V

Morgan Stanley’s Latest Assessment: Three Variables for Gold’s Rise to $5,200 — Hawkish Fed, ETF Flows, and Middle East Turmoil Morgan Stanley ( MS )'s latest precious metals research report shows that while continuous gold purchases by global central banks have provided a solid floor of support, gold ( XAUUSD )'s

Author TradingKey

9 hours ago

Morgan Stanley ( MS )'s latest precious metals research report shows that while continuous gold purchases by global central banks have provided a solid floor of support, gold ( XAUUSD )'s

Qatar and Pakistan: High-level committee agrees on roadmap to final deal within 60 days The US-Iran peace talks took place on Sunday in Bürgenstock, Switzerland, with delegations from Iran, the United States, Qatar, and Pakistan participating.

Author FXStreet

16 hours ago

The US-Iran peace talks took place on Sunday in Bürgenstock, Switzerland, with delegations from Iran, the United States, Qatar, and Pakistan participating.

Silver Price Forecast: XAG/USD rebounds to near $66.00 amid fading US-Iran talks optimism Silver price (XAG/USD) halts its three-day losing streak, trading around $65.90 per troy ounce during the Asian hours on Monday.

Author FXStreet

17 hours ago

Silver price (XAG/USD) halts its three-day losing streak, trading around $65.90 per troy ounce during the Asian hours on Monday.

WTI Price Forecast: Trades above $75.50 on Iran uncertainty; 200-day SMA holds the key West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the overnight bounce from the $72.80 region, or the lowest level since early March, and oscillates in a narrow band during the Asian session on Friday.

Author FXStreet

Jun 19, Fri

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the overnight bounce from the $72.80 region, or the lowest level since early March, and oscillates in a narrow band during the Asian session on Friday.

Popular Symbols