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: May have enough momentum for USD to rise to 7.2820 – UOB Group

Source Fxstreet

US Dollar (USD) is expected to trade in a 7.2540/7.2700 range vs Chinese Yuan (CNH). In the longer run, there appears to be enough momentum for USD to rise to 7.2820, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Below 7.2450, the current upward pressure is set to ease

24-HOUR VIEW: "Yesterday, USD traded in a subdued manner between 7.2610 and 7.2715 before closing little changed at 7.2664 (+0.05%). The price action provides no fresh clues. Today, we expect USD to trade in a 7.2540/7.2700 range."

1-3 WEEKS VIEW: "After rising for a few days in a row, the advance in USD slowed yesterday as it closed largely unchanged at 7.2664 (+0.05%). However, USD appears to have enough momentum to rise further to 7.2820. On the downside, a breach of 7.2450 would mean that the current upward pressure has eased."

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

Recommended Articles

Forex Today: US Dollar stays resilient ahead of key US data Here is what you need to know on Wednesday, June 3:

Author FXStreet

8 hours ago

Here is what you need to know on Wednesday, June 3:

$1.5 Billion in Crypto Assets Liquidated, Bitcoin Falls Below $66,000 Mark. What Is the Reason?On June 2, Eastern Time, the cryptocurrency market suffered its most severe wave of concentrated liquidations so far this year. Bitcoin ( BTC) fell below the $70,000 psychological support

Author TradingKey

12 hours ago

On June 2, Eastern Time, the cryptocurrency market suffered its most severe wave of concentrated liquidations so far this year. Bitcoin ( BTC) fell below the $70,000 psychological support

WTI rises to near $93.00 as Iran launches missiles toward Kuwait, Bahrain West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.

Author FXStreet

17 hours ago

West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.

Silver Price Forecast: Trump Signals Rapid Progress in US-Iran Negotiations, Bulls Target $90 Recently, silver prices ( XAGUSD) have been fluctuating within the $73.60-$78.00 range, impacted by shifting U.S.-Iran tensions. However, as signals emerge of further easing in the situat

Author TradingKey

Yesterday 10: 19

Recently, silver prices ( XAGUSD) have been fluctuating within the $73.60-$78.00 range, impacted by shifting U.S.-Iran tensions. However, as signals emerge of further easing in the situat

Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike bets Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.

Author FXStreet

Yesterday 01: 18

Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.

Popular Symbols