UOB: USD/CNH Range-Bound Between 6.7750-6.8080
UOB analyst Quek Ser Leang notes USD/CNH momentum has softened, with a near-term band of 6.7800–6.7930 and a 1–3 week range of 6.7750–6.8080 as earlier dollar strength fades.
USDCNH
United Overseas Bank (UOB) strategist Quek Ser Leang reports that USD/CNH is trading sideways within a tight range. Short-term momentum has softened, keeping the pair confined to a narrow intraday band of 6.7800–6.7930.
Looking ahead over the next one to three weeks, UOB expects range-bound action between 6.7750 and 6.8080. The bank attributes the consolidation to a fading of the earlier US dollar strength.
Source: FXStreet Forex News