USD/CNH: Set to consolidate in recent range – OCBC
Source Fxstreet
USD/CNH stayed bid but largely capped below 7.30. Pair was last at 7.2830 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
PBOC policymakers are looking for relative stability
“Berish momentum on daily chart shows signs of fading while RSI rose. Consolidation likely in recent range as PBOC daily fixing suggests policymakers are looking for relative stability. Support at 7.26 (21 DMA), 7.2340 (23.6% fibo retracement of Sep low to Dec high) and 7.2040 (200 DMA). Resistance at 7.2940, 7.3150 levels.”
“2-day CEWC concluded with President Xi signalling for more borrowing and spending in 2025. Officials also reiterated their pledges to keep the Chinese currency stable at reasonable and equilibrium levels.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Strait of Hormuz Blockade: JPM Warns Crude Production May Halt After 25 Days. How Will US-Iran Conflict Trajectory Affect Global Oil Prices?TradingKey - Following the announcement of a ban prohibiting all vessels from transiting the Strait of Hormuz on the evening of February 28, JPMorgan (JPM) warned that if the Strait of Hormuz is compl
TradingKey - Following the announcement of a ban prohibiting all vessels from transiting the Strait of Hormuz on the evening of February 28, JPMorgan (JPM) warned that if the Strait of Hormuz is compl
WTI Price Forecast: Retreats from seven-month top, still well bid near $71.00 markWest Texas Intermediate (WTI) US Crude Oil prices trim a part of strong intraday gains to levels beyond the $73.00 mark, or the highest since June 2025, touched this Monday in reaction to a dramatic escalation of geopolitical tensions in the Middle East.
West Texas Intermediate (WTI) US Crude Oil prices trim a part of strong intraday gains to levels beyond the $73.00 mark, or the highest since June 2025, touched this Monday in reaction to a dramatic escalation of geopolitical tensions in the Middle East.
Gold is on fire at the start of the week, a widely expected move, as investors seek harbor in the traditional store of value, following the continued US and Israel attacks on Iran.
Oil prices rise as US and Iran extend talks into next weekUS-Iran talks end with no deal but signs of progressOPEC+ to consider oil output increase for April, sources sayBrent and WTI benchmarks register slight daily gainsBy Anna Hirtenstein LONDON, Feb 27 (Reuters) - Oil prices rose on Friday but were on track to finish the week relatively flat after t...
US-Iran talks end with no deal but signs of progressOPEC+ to consider oil output increase for April, sources sayBrent and WTI benchmarks register slight daily gainsBy Anna Hirtenstein LONDON, Feb 27 (Reuters) - Oil prices rose on Friday but were on track to finish the week relatively flat after t...
Silver Price Forecast: XAG/USD jumps above $90 as AI valuation risks boost safe-haven demandSilver price (XAG/USD) is up 2.4% to near $90.60 during the European trading session on Friday. The white metal strengthens as escalating concerns over valuations of Artificial Intelligence (AI) stocks have prompted demand for safe-haven assets.
Silver price (XAG/USD) is up 2.4% to near $90.60 during the European trading session on Friday. The white metal strengthens as escalating concerns over valuations of Artificial Intelligence (AI) stocks have prompted demand for safe-haven assets.
