UOB Group’s FX Strategists reiterated the outlook for USD/CNH still remains tilted to the negative side in the near-term. Key Quotes 24-hour view: “Our expectation for USD to ‘test 6.5400’ did not quite materialize as it traded in a relatively quiet manner between 6.5414 and 6.5582. Downward momentum has improved somewhat and a dip below 6.5400 would not be surprising. For today, the next support at 6.5300 is unlikely to come into the picture. Minor support is at 6.5350. Resistance is at 6.5480 followed by 6.5550.” Next 1-3 weeks: “We highlighted yesterday (13 Apr, spot at 6.5500) that USD ‘is in a consolidation and is expected to trade between 6.5400 and 6.5800 for now’. We added, ‘shorter-term downward momentum has improved somewhat but USD has to close below 6.5400 before a more sustained decline can be expected’. USD is approaching 6.5400 and a daily closing below this level could lead to weakness towards 6.5300. Overall, USD is deemed under mild downward pressure as long as it does not move above 6.5630.” 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 to plunge towards 1.2260, big week ahead for the loonie – Credit Suisse FX Street 2 years UOB Group's FX Strategists reiterated the outlook for USD/CNH still remains tilted to the negative side in the near-term. Key Quotes 24-hour view: "Our expectation for USD to 'test 6.5400' did not quite materialize as it traded in a relatively quiet manner between 6.5414 and 6.5582. Downward momentum has improved somewhat and a dip below 6.5400 would not be surprising. For today, the next support at 6.5300 is unlikely to come into the picture. Minor support is at 6.5350. Resistance is at 6.5480 followed by 6.5550." Next 1-3 weeks: "We highlighted yesterday (13 Apr, spot at 6.5500) that USD 'is… 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.
