The prospects of USD/CNH surpassing the 7.1700 level keep losing momentum, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “While our view that USD is ‘likely to continue to consolidate’ was not wrong, the registered range of 7.0980/7.1184 was narrower than our expected 7.0900/7.1250. The price action offers no further clues and we continue to expect USD to consolidate. Expected range for today, 7.0950/7.1200.” Next 1-3 weeks: “After rising strongly to 7.1652 on 19 Mar, USD has not been able to make much headway on the upside and subsequently traded mostly sideways. While upward momentum has deteriorated further, a break of 7.1700 is not ruled out just yet. To look at it another way, there is still chance for another up-leg above 7.1700 even though the prospect for such a move continues to diminish. Only a break of 7.0550 (‘strong support’ level previously at 7.0450) would indicate that 7.1652 is more significant top than currently expected.” 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: Trend to turn lower again – Credit Suisse FX Street 2 years The prospects of USD/CNH surpassing the 7.1700 level keep losing momentum, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “While our view that USD is ‘likely to continue to consolidate’ was not wrong, the registered range of 7.0980/7.1184 was narrower than our expected 7.0900/7.1250. The price action offers no further clues and we continue to expect USD to consolidate. Expected range for today, 7.0950/7.1200.” Next 1-3 weeks: “After rising strongly to 7.1652 on 19 Mar, USD has not been able to make much headway on the upside and subsequently traded mostly sideways. While upward momentum has deteriorated further,… Top 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.
