USD/CNH: Likely to trade in a range between 7.1700 and 7.1950 – UOB Group

Source Fxstreet

US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1950. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD has likely moved back into a range trading phase

24-HOUR VIEW: "We expected USD to 'edge higher', but we pointed out that 'any advance is likely limited to a test of 7.2070.' However, USD fell and closed at 7.1740 before rebounding in early Asian trade today. The decline did not result in a significant increase in downward momentum. This, combined with the rebound, suggests USD is likely to trade in a range today, probably between 7.1700 and 7.1950."

1-3 WEEKS VIEW: "In our most recent narrative from Monday (09 Jun, spot at 7.1870), we highlighted that the recent 'mild downward momentum has eased, and USD has likely moved back into a range trading phase, probably between 7.1620 and 7.2200.' Since then, USD has traded within the range, and our view remains unchanged for now."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Who Moved 80,000 BTC? Bitcoin On-Chain Sleuth Drops Bombshell ExposéBitcoin On-chain Sleuth TruthLabs has dropped his theory on who moved the 80,000 BTC ($8.72 billion).
Author  Bitcoinist
Yesterday 01: 22
Bitcoin On-chain Sleuth TruthLabs has dropped his theory on who moved the 80,000 BTC ($8.72 billion).
placeholder
Gold Price Forecast: XAU/USD declines below $3,350 on hopes for trade dealsThe Gold price ( XAU/USD) trades in negative territory near $3,330 during the Asian trading hours on Tuesday, pressured by a firmer US Dollar (USD).
Author  FXStreet
Yesterday 02: 19
The Gold price ( XAU/USD) trades in negative territory near $3,330 during the Asian trading hours on Tuesday, pressured by a firmer US Dollar (USD).
placeholder
Japanese Yen weakens as trade uncertainties temper BoJ rate hike betsThe Japanese Yen (JPY) drifts lower against a weaker US Dollar (USD) for the second successive day and slides to over a two-week low during the Asian session on Tuesday.
Author  FXStreet
Yesterday 02: 26
The Japanese Yen (JPY) drifts lower against a weaker US Dollar (USD) for the second successive day and slides to over a two-week low during the Asian session on Tuesday.
placeholder
Citigroup Revs Up the Engine: Raises NVIDIA Target to $190, Eyes $4 Trillion MarketCitigroup has recently raised its price target for NVIDIA (NVIDIA.US) from its previous level to $190 per share, suggesting roughly 15% upside from Thursday’s closing price.
Author  TradingKey
Yesterday 06: 39
Citigroup has recently raised its price target for NVIDIA (NVIDIA.US) from its previous level to $190 per share, suggesting roughly 15% upside from Thursday’s closing price.
placeholder
Solana Price Forecast: SOL eyes breakout as network activity hits record high, ETF chances improveSolana (SOL) ticks marginally higher on Tuesday as the selling pressure persists following the near 2% drop on Monday.
Author  FXStreet
Yesterday 08: 13
Solana (SOL) ticks marginally higher on Tuesday as the selling pressure persists following the near 2% drop on Monday.
goTop
quote