USD/CNH: The 6.3650-6.4050 range still prevails – UOB
|USD/CNH is still expected to trade within the 6.3650-6.4050 range in the near term, commented FX Strategists at UOB Group.
Key Quotes
24-hour view: “Our expectation for USD to ‘weaken to 6.3750’ did not materialize as it traded between 6.3780 and 6.3950 before closing unchanged at 6.3863. Momentum indicators are mostly flat and USD is likely to trade sideways. Expected range for today, 6.3790/6.3960.”
Next 1-3 weeks: “We continue to hold the same view as from yesterday (10 Jun, spot at 6.3830). As highlighted, USD likely to trade sideways within a range of 6.3650/6.4050.”
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.