In opinion of FX Strategists at UOB Group, USD/CNH does not rule out a potential visit to the 6.87 area in the next weeks. Key Quotes 24-hour view: “USD traded between 6.9249 and 6.9619 last Friday, narrower than our expected sideway-trading range of 6.9280/6.9700. The underlying tone has weakened even though any decline is unlikely to challenge the 6.9000 support. Only a move above 6.9500 would indicate the current downward pressure has eased.” Next 1-3 weeks: “There is not much to add to our view from last Wednesday (04 Mar, spot at 6.9430). As highlighted USD is expected to weaken further to 6.9000. Since then, downward momentum has improved and from here, if USD were to register a NY closing below 6.9000, USD could weaken further to 6.8700. On the upside, the ‘strong resistance’ level has moved lower to 6.9700 from 6.9950.” 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/SEK: Sell-off to be triggered – Commerzbank FX Street 2 years In opinion of FX Strategists at UOB Group, USD/CNH does not rule out a potential visit to the 6.87 area in the next weeks. Key Quotes 24-hour view: “USD traded between 6.9249 and 6.9619 last Friday, narrower than our expected sideway-trading range of 6.9280/6.9700. The underlying tone has weakened even though any decline is unlikely to challenge the 6.9000 support. Only a move above 6.9500 would indicate the current downward pressure has eased.” Next 1-3 weeks: “There is not much to add to our view from last Wednesday (04 Mar, spot at 6.9430). As highlighted USD is expected to weaken… 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.
