FX Strategists at UOB Group noted that USD/CNH is still expected to navigate within the 7.0400-7.1000 range in the next weeks. Key Quotes 24-hour view: “USD traded in a tight 7.0632/7.0710 range last Friday before closing little changed at 7.0683 (+0.02%). The price action upon opening this morning appears weak and from here, USD could edge lower to 7.0550. For today, a sustained decline below this level is not expected. Resistance is at 7.0700 followed by 7.0750.” Next 1-3 weeks: “There is not much to add to our update from last Tuesday (25 Jun, spot at 7.0760). The quiet price actions since then reinforce our view that USD/CNH is still expected to trade sideways, likely within a broad 7.0400/7.1000 range.” 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/CHF: Under pressure while below 0.9532 – Commerzbank FX Street 3 years FX Strategists at UOB Group noted that USD/CNH is still expected to navigate within the 7.0400-7.1000 range in the next weeks. Key Quotes 24-hour view: “USD traded in a tight 7.0632/7.0710 range last Friday before closing little changed at 7.0683 (+0.02%). The price action upon opening this morning appears weak and from here, USD could edge lower to 7.0550. For today, a sustained decline below this level is not expected. Resistance is at 7.0700 followed by 7.0750.” Next 1-3 weeks: “There is not much to add to our update from last Tuesday (25 Jun, spot at 7.0760). The quiet price… 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.
