FX Strategists at UOB Group noted the upside bias in USD/CNH could extend to the 6.5200 level in the short-term. Key Quotes 24-hour view: “We highlighted yesterday that USD ‘could edge higher but any advance is viewed as part of a 6.4500/6.4750 range’. We added, “a sustained rise above 6.4750 is not expected”. Our view was not wrong as USD eased off after touching 6.4774. The underlying tone has improved a tad and for today, USD is likely to trade within a higher range of 6.4580/6.4900.” Next 1-3 weeks: “On Wednesday (13 Jan, spot at 6.4500), we indicated that the outlook is mixed and we expected USD to ‘trade between 6.4100 and 6.4900’. While there is no change in our view, upward momentum is beginning to improve and a clear break of 6.4900 could lead to USD moving higher towards 6.5200. At this stage, the prospect for USD to advance is not high but it would remain intact unless the ‘strong support’ at 6.4300 is 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 USD/CHF to jump above 0.90 on a break of the 0.8918 December highs – Commerzbank FX Street 2 years FX Strategists at UOB Group noted the upside bias in USD/CNH could extend to the 6.5200 level in the short-term. Key Quotes 24-hour view: “We highlighted yesterday that USD ‘could edge higher but any advance is viewed as part of a 6.4500/6.4750 range’. We added, “a sustained rise above 6.4750 is not expected”. Our view was not wrong as USD eased off after touching 6.4774. The underlying tone has improved a tad and for today, USD is likely to trade within a higher range of 6.4580/6.4900.” Next 1-3 weeks: “On Wednesday (13 Jan, spot at 6.4500), we indicated that the… 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.
