UOB Group’s FX Strategists noted USD/CNH is now likely to navigate with the 6.4400-6.5200 range in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘while further USD strength would not be surprising, the strong surge appears to be running ahead of itself and a sustained rise above 6.5200 is unlikely’. USD subsequently rose to 6.5150 before staging a surprisingly sharp and swift sell-off to an overnight low of 6.4689. The rapid swings have resulted in a mixed outlook and USD could trade in a choppy manner. Expected range for today, 6.4600/6.4950.” Next 1-3 weeks: “We highlighted yesterday that ‘6.5200 appears to be within reach and a break of this level would suggest further USD strength towards 6.5360’. USD subsequently rose to 6.5150 but the sharp sell-off from the high came as a surprise. While our ‘strong support” at 6.4650 is still intact (overnight low of 6.4689), upward momentum has waned considerably. In other words, further USD strength is unlikely. From here, USD is more likely to trade sideways, expected to be within a relatively broad range of 6.4400/6.5200.” 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 faces extra consolidation – Commerzbank FX Street 1 year UOB Group’s FX Strategists noted USD/CNH is now likely to navigate with the 6.4400-6.5200 range in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘while further USD strength would not be surprising, the strong surge appears to be running ahead of itself and a sustained rise above 6.5200 is unlikely’. USD subsequently rose to 6.5150 before staging a surprisingly sharp and swift sell-off to an overnight low of 6.4689. The rapid swings have resulted in a mixed outlook and USD could trade in a choppy manner. Expected range for today, 6.4600/6.4950.” Next 1-3 weeks: “We highlighted yesterday… 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.