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fxAug 7, 2026, 9:12 PM

Chinese Yuan Range Trade Holds as UOB Sees Consolidation Against USD

UOB analysts Quek Ser Leang and Lee Sue Ann view USD/CNH as confined to a narrow intraday range, with flat momentum pointing to continued consolidation.

USDCNH

UOB analysts Quek Ser Leang and Lee Sue Ann note that USD/CNH remains stuck inside a tight intraday band. Flat momentum suggests the pair will keep consolidating in the near term.

The analysts see support around 6.7450, though the upper end of the range was not specified. The lack of directional momentum reflects a market waiting for fresh catalysts.

The offshore yuan has recently shown a bullish tone against the US dollar, but for now the price action is range-bound. A clear break either side would be needed to signal the next move.

Source: FXStreet Forex News