USD/CNH: Price movements are likely part of a range trading phase – UOB Group

FXStreet Insights Team FXStreet

Current US Dollar (USD) price movements are likely part of a range trading phase vs Chinese Yuan (CNH), probably between 7.2530 and 7.2750. In the longer run, downward momentum has largely faded; USD is expected to trade in a 7.2400/7.2900 range for the time being, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Downward momentum has largely faded

24-HOUR VIEW: "Yesterday, when USD was at 7.2500, we noted 'a slight increase in downward momentum.' We added, USD 'could edge lower, but there are a pair of strong support levels at 7.2420 and 7.2350.' Our view did not materialise, as USD traded between 7.2481 and 7.2678, closing at 7.2660. The current price movements are likely part of a range trading phase, probably between 7.2530 and 7.2750."

1-3 WEEKS VIEW: "Our most recent narrative was from two days ago (25 Feb, spot at 7.2550), wherein 'the failure to hold below 7.2300 has diminished the likelihood of further decline.' Yesterday, USD edged to a high of 7.2678. While our ‘strong resistance’ level at 7.2705 has not been clearly breached yet, downward momentum has largely faded. USD has likely entered a range trading phase and is expected to trade between 7.2400 and 7.2900 for the time being."

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.