USD/CNH remains offered and could ease to the 6.3800 region in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterday, we highlighted that ‘the outsized drop appears to be overdone but there is room for USD to test 6.4300 first’. We clearly did not anticipate the sharp plunge in USD that sent it to a low of 6.4127. While downward momentum is beginning to wane, it is too early to expect a sustained recovery. That said, in view of the rather oversold conditions, any weakness in USD could be limited to a test of 6.4000. Resistance is at 6.4500 followed by 6.4660.” Next 1-3 weeks: “While our expectation for USD to weaken was correct, we did not quite anticipate the pace of the decline as it dropped sharply to a low of 6.4127. As highlighted yesterday (05 Jan, spot at 6.4500), the next support is at 6.4300 followed by 6.4000. In view of the vastly improved momentum, a break of 6.4000 would not be surprising and would open up the way for a move lower to 6.3800. All in, USD is expected to remain weak as long as it does not move above 6.4950 (‘strong resistance’ level was at 6.5100 yesterday).” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next MicroStrategy’s correlation to Bitcoin price surpasses 67% while MSTR skyrockets FX Street 1 year USD/CNH remains offered and could ease to the 6.3800 region in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterday, we highlighted that ‘the outsized drop appears to be overdone but there is room for USD to test 6.4300 first’. We clearly did not anticipate the sharp plunge in USD that sent it to a low of 6.4127. While downward momentum is beginning to wane, it is too early to expect a sustained recovery. That said, in view of the rather oversold conditions, any weakness in USD could be limited to a test of 6.4000.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.