FX Strategists at UOB Group noted the outlook for USD/CNH still looks negative in the near-term. Key Quotes 24-hour view: “USD closed little changed at 4.5019 last Thursday (6.5019, -0.07%) but weakened after opening this morning. Downward momentum has improved and the risk is for USD to weaken further. That said, the major support at 6.4720 is likely out of reach. Resistance is at 6.5030 followed by 6.5100.” Next 1-3 weeks: “USD dipped to a fresh low of 6.4880 last Thursday (31 Dec). Downward momentum is improving and USD could weaken further to 6.4720. A break of this level would open up the way for further weakness towards 6.4450. All in, the outlook for USD is negative unless it can move above the ‘strong resistance’ level at 6.5250.” 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 AUD/USD to extend the rally above 0.7750 – OCBC FX Street 1 year FX Strategists at UOB Group noted the outlook for USD/CNH still looks negative in the near-term. Key Quotes 24-hour view: “USD closed little changed at 4.5019 last Thursday (6.5019, -0.07%) but weakened after opening this morning. Downward momentum has improved and the risk is for USD to weaken further. That said, the major support at 6.4720 is likely out of reach. Resistance is at 6.5030 followed by 6.5100.” Next 1-3 weeks: “USD dipped to a fresh low of 6.4880 last Thursday (31 Dec). Downward momentum is improving and USD could weaken further to 6.4720. A break of this level would… 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.
