USD/CNH keeps the mixed outlook unchanged – UOB
|In opinion of FX Strategists at UOB Group, the outlook for USD/CNH remains mixed for the time being.
Key Quotes
24-hour view: “Last Friday, we expected USD to ‘trade between 6.4500 and 6.4750’. USD subsequently traded within a narrower range than expected (6.4514/6.4725) before closing little changed at 6.4633 (+0.09%). The movement is deemed as part of a consolidation phase and further sideway-trading would not be surprising, likely between 6.4525 and 6.4750.”
Next 1-3 weeks: “Our update from last Friday (30 Jul, spot at 6.4650) still stands. As highlighted, the recent sharp but short-lived swings have resulted in a mixed outlook and USD could trade within a 6.4400/6.5000 range for now.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.