TRENDING:

GBP/USD

XAU/USD

USD/CNH faces some consolidation ahead of extra losses – UOB

Pablo Piovano FXStreet

USD/CNH could move into a consolidative phase in the near-term ahead of potential pullbacks, in opinion of FX Strategists at UOB Group.

Key Quotes

24-hour view: “USD plunged to 6.3768 yesterday before rebounding. The sharp and rapid drop appears to be overdone and USD is unlikely to weaken much further. For today, USD is more likely to consolidate, expected to be within a 6.3740/6.3960 range.”

Next 1-3 weeks: “In our latest update on Tuesday (25 May, spot at 6.4125), we highlighted that ‘downward momentum has picked up and the risk is for USD to break the major support at 6.4015’. We added, ‘a daily closing below 6.4015 would indicate that USD could decline towards the next support at 6.3800’. USD subsequently cracked 6.4015 and while it not did close below 6.4015, it plunged to 6.3768 yesterday (26 May). Strong downward momentum suggests that USD could weaken further to 6.3550. That said, shorter-term conditions are deeply oversold and this could lead to a couple of days of consolidation first. Overall, the risk for USD remains on the downside unless it can move above 6.4150 (‘strong resistance’ level previously at 6.4300).”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Shiba Inu's bears tighten grip, aiming for yearly lows

Shiba Inu price remains under pressure, trading below $0.000070 on Wednesday as bearish momentum continues to dominate the broader crypto market. On-chain and derivatives data further support the bearish sentiment, while technical analysis suggests a deeper correction targeting the yearly lows.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Stellar Price Forecast: XLM slips below $0.22 as bearish momentum builds

Stellar (XLM) price is trading below $0.22 at the time of writing on Wednesday after failing to close above the key resistance earlier this week. Bearish momentum continues to strengthen, with open interest falling and short bets rising.

Key Quotes

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025