USD/CNH is likely to edge higher – UOB Group

FXStreet Insights Team FXStreet

US Dollar (USD) is likely to edge higher, but any advance is unlikely to reach the major resistance at 7.2330. In the longer run, downward momentum has largely faded; USD is likely to trade in a 7.1850/7.2450 range for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Advance is unlikely to reach 7.2330

24-HOUR VIEW: "Yesterday, we expected USD to 'trade in a sideways range of 7.1990/7.2190.' Our call for sideways trading was not wrong, even though USD traded in a narrower range than expected (7.2042/7.2178), closing largely unchanged (7.2140. +0.06%). Despite the quiet price action, there has been a tentative buildup in upward momentum. Today, USD is likely to edge higher, but as momentum is not strong, any advance is unlikely to reach the major resistance at 7.2330. There is another resistance level at 7.2250. Support is at 7.2100, followed by 7.2000."

1-3 WEEKS VIEW: "We have held a negative USD view since early this month. In our most recent narrative from last Friday (16 May, spot at 7.2040), we highlighted that USD 'has not been able to make significant headway on the downside.' We added, 'However, only a breach of 7.2330 (‘strong resistance’ level) would indicate that the likelihood of USD declining to 7.1700 has faded.' Although 7.2330 has not been breached yet, after the quiet price action over the past couple of days, downward momentum has largely faded. Instead of weakening, USD is likely to trade in a 7.1850/7.2450 range for now."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD eyes 0.7150 barrier nine-day EMA

AUD/USD inches higher after registering modest losses in the previous day, trading around 0.7130 during the Asian hours. The technical analysis of the daily chart indicates that the pair is moving sideways within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.

USD/JPY trades below 160.00 intervention threshold; bullish bias intact

The USD/JPY pair attracts some sellers during the Asian session amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, the Israel-Lebanon truce prompts some profit-taking around the US Dollar and exerts downward pressure on the currency pair.

Gold defends 200-day SMA at $4,425, but for how long?

Gold is attempting a tepid recovery toward $4,500 early Thursday, as renewed optimism in the Mideast geopolitical front calms market nerves. This cautious optimism across Asian markets weighs on Oil prices, and diminishes the US Dollar’s safe-haven appeal, helping Gold stage a decent comeback from the weekly low of $4,424.

Hyperliquid: ETF demand, capital rotation fuel HYPE rally as Bitcoin melts

Hyperliquid price sustains an upward trend near its all-time high of $75.76 on Thursday after posting 80% gains in May, while Bitcoin (BTC) retraces below $65,000, triggering a market-wide panic.

Kevin Warsh takes the Fed helm: What it means for the US Dollar

The Federal Reserve moves away from the highly predictable "forward guidance" model of the Jerome Powell era to a new “Kevin Warsh environment”, characterized by less communication, more policy surprises, and an increased focus on the Fed's complex balance sheet.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.