FX Strategists at UOB Group still expect USD/CNH to trade in a consolidative fashion in the short-term horizon. Key Quotes 24-hour view: “USD dropped to a low of 7.0586 yesterday before rebounding. The price action was in line with our expectation wherein USD ‘could move lower to 7.0600 but 7.0550 is unlikely to come into the picture’. The underlying tone still appears to be on the soft side and this could translate into a lower trading range of 7.0550/7.0750 for today (a sustained decline below 7.0550 is not expected).” Next 1-3 weeks: “USD traded within relatively narrow range the last couple of days. For now, there is no change to our latest narrative from last Thursday (25 Jun, spot at 7.0760). As highlighted, USD is expected to trade sideways, likely within a broad 7.0400/7.1000 range for now.” 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 USD/CAD flirts with session lows, around 1.3580 region FX Street 3 years FX Strategists at UOB Group still expect USD/CNH to trade in a consolidative fashion in the short-term horizon. Key Quotes 24-hour view: “USD dropped to a low of 7.0586 yesterday before rebounding. The price action was in line with our expectation wherein USD ‘could move lower to 7.0600 but 7.0550 is unlikely to come into the picture’. The underlying tone still appears to be on the soft side and this could translate into a lower trading range of 7.0550/7.0750 for today (a sustained decline below 7.0550 is not expected).” Next 1-3 weeks: “USD traded within relatively narrow range the last… 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.
