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: Above 7.1600 further sustained gains are likely – UOB Group

Source Fxstreet

Room for USD to rise; the 7.1600 level is likely out of reach. In the longer run, upward momentum is building, but USD must break and remain above 7.1600 before further sustained gains are likely, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.

USD/CNH looks to test 7.1600

24-HOUR VIEW: “We indicated yesterday that ‘The increasing momentum suggest USD is likely to rise further, potentially reaching 7.1600.’ However, USD rose less than expected, pulling back from 7.1500. Despite pulling back, the underlying tone appears firm. Today, we continue to see room for USD to rise, even though the 7.1600 level is likely out of reach. On the downside, support levels are at 7.1375 and 7.1300.”

1-3 WEEKS VIEW: “Our update from yesterday (28 Oct, spot at 7.1460) remains valid. As highlighted, ‘While upward momentum is building, USD must break and remain above 7.1600 before further sustained gains are likely.’ The likelihood of USD breaking clearly above 7.1600 will remain intact, provided that 7.1200 is not breached in the next few days.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Oil’s Return to $110 Boosts Fed Hike Expectations, Pressuring Gold for Fourth Day Toward $4,100 On October 21, gold prices continued their adjustment, with gold (XAUUSD) dropping intraday to as low as $4,106, nearing the $4,100 mark and marking its fourth consecutive trading day of

Author TradingKey

12 hours ago

On October 21, gold prices continued their adjustment, with gold (XAUUSD) dropping intraday to as low as $4,106, nearing the $4,100 mark and marking its fourth consecutive trading day of

Housing starts fell to the second-lowest since the pandemic shutdown — with the 10-year at 5.12%, who is left to buy?US housing starts dropped 5.2% to 1.221 million in September, the second-lowest pace since the 2020 pandemic shutdown, and building permits hit a three-and-a-half-year low of 1.400 million. Both figures are worse than they look because July and August were revised up. With the 10-year Treasury at 5.117% — only 19bp below its October 5 peak of 5.311% — and the NAHB builder confidence index at 2012 levels, here are the three numbers, the transmission chain from rates to permits, and the two scenarios into the October 28 FOMC.

Author Irene Q.

14 hours ago

US housing starts dropped 5.2% to 1.221 million in September, the second-lowest pace since the 2020 pandemic shutdown, and building permits hit a three-and-a-half-year low of 1.400 million. Both figures are worse than they look because July and August were revised up. With the 10-year Treasury at 5.117% — only 19bp below its October 5 peak of 5.311% — and the NAHB builder confidence index at 2012 levels, here are the three numbers, the transmission chain from rates to permits, and the two scenarios into the October 28 FOMC.

The Dow gained 500 points and the two AI names that matter fell after hours — Netflix's guide is the tell The Dow closed 529.85 points higher at 52,495.88 (+1.02%) and the VIX fell 6.13% to 17.31, but the two stocks that carry the AI trade moved the other way after Tuesday's close: Netflix slipped to $64.74 (-5.8%) after guiding Q4 EPS of $0.67, below the street, while SpaceX jumped about 8% to near $160 on its first profit as a public company and revenue up 161%. Netflix is now below its 52-week low of $65.08. Here are the numbers, the $65 / $70 levels and the two catalysts that matter this week.

Author Irene Q.

15 hours ago

The Dow closed 529.85 points higher at 52,495.88 (+1.02%) and the VIX fell 6.13% to 17.31, but the two stocks that carry the AI trade moved the other way after Tuesday's close: Netflix slipped to $64.74 (-5.8%) after guiding Q4 EPS of $0.67, below the street, while SpaceX jumped about 8% to near $160 on its first profit as a public company and revenue up 161%. Netflix is now below its 52-week low of $65.08. Here are the numbers, the $65 / $70 levels and the two catalysts that matter this week.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 21, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.

Author Mitrade

18 hours ago

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.

Australian Dollar trades near monthly high, above 0.7000 as hawkish RBA offsets USD uptick The AUD/USD pair trades with a positive bias for the fourth straight day, holding steady above the 0.7000 psychological mark during the Asian session on Wednesday and flirting with the monthly high it touched the previous day.

Author FXStreet

19 hours ago

The AUD/USD pair trades with a positive bias for the fourth straight day, holding steady above the 0.7000 psychological mark during the Asian session on Wednesday and flirting with the monthly high it touched the previous day.

Popular Symbols