USD/CNH: Likely to trade between 7.1850 and 7.2050 – UOB Group

FXStreet Insights Team FXStreet

US Dollar (USD) is likely to trade between 7.1850 and 7.2050 against Chinese Yuan (CNH). In the longer run, for now, USD is likely to trade in a range between 7.1800 and 7.2300, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

USD is likely range-bound for now

24-HOUR VIEW: "Yesterday, we expected USD to 'consolidate between 7.1920 and 7.2150.' However, USD traded in a lower range of 7.1860/7.2063, closing lower by 0.22% at 7.1919. The price movements provide no fresh clues. Today, we expect USD to trade between 7.1800 and 7.2050."

1-3 WEEKS VIEW: "Our latest narrative was from last Thursday (29 May, spot at 7.2025), wherein USD 'is likely to trade in a range between 7.1800 and 7.2300 for now.' Since then, the range remained intact, and we continue to hold the same view."

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