According to FX Strategists at UOB Group, USD/CNH could edge higher and test the 6.5200 area in the next weeks. Key Quotes 24-hour view: “We highlighted last Friday that ‘the underlying tone has improved a tad’ and we expected USD to ‘trade within a higher range of 6.4580/6.4900’. While our view was not wrong, USD traded within a narrower range than expected (6.4630/6.4855). The underlying tone has improved further and USD is likely to edge upwards to 6.5000. For today, a sustained rise above this level is unlikely. Support is at 6.4760 followed by 6.4670.” Next 1-3 weeks: “We highlighted last Friday (15 Jan, spot at 6.4680) that upward momentum is begging to improve and a clear break of 6.4900 could lead to USD moving higher to 6.5200. Upward momentum has improved further and USD is currently holding just below 6.4900. In other words, there is no change in our view. The prospect for USD to move to 6.5200 would increase further as long as 6.4450 (‘strong support’ level previously at 6.4300) is not breached.” 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 GBP/USD slides to multi-day lows, further below mid-1.3500s FX Street 2 years According to FX Strategists at UOB Group, USD/CNH could edge higher and test the 6.5200 area in the next weeks. Key Quotes 24-hour view: “We highlighted last Friday that ‘the underlying tone has improved a tad’ and we expected USD to ‘trade within a higher range of 6.4580/6.4900’. While our view was not wrong, USD traded within a narrower range than expected (6.4630/6.4855). The underlying tone has improved further and USD is likely to edge upwards to 6.5000. For today, a sustained rise above this level is unlikely. Support is at 6.4760 followed by 6.4670.” Next 1-3 weeks: “We highlighted… 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.
