USD/CNH keeps the range bound theme unchanged – UOB
|According to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, USD/CNH is expected to keep navigating the 6.7350-6.8000 range for the time being.
Key Quotes
24-hour view: “USD traded between 6.7468 and 6.7686 last Friday, close to our expected sideway-trading range of 6.7470/6.7700. Further sideway trading seems likely even though the slightly firmed underlying tone suggests a higher range of 6.7540/6.7750.”
Next 1-3 weeks: “We continue to hold the same view as last Wednesday (03 Aug, spot at 6.7750) where is USD is likely to trade between 6.7350 and 6.8000 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.