UOB Group’s FX Strategists see USD/CNH trading within the 6.4730-6.5360 range in the next weeks. Key Quotes 24-hour view: “Our expectation for USD to ‘trade between 6.5050 and 6.5400’ was incorrect as it fell to 6.4940. Despite the relatively sharp decline, downward momentum has not improved by much. However, there is room for USD to edge lower to 6.4870. Any weakness is not expected to challenge the next support at 6.4730. Resistance is at 6.5130 followed by 6.5280.” Next 1-3 weeks: “We highlighted yesterday (10 Mar, spot at 6.5220) that ‘a break of 6.5000 would indicate that the 3-week positive phase has come to an end’. USD subsequently breached 6.5000 as it fell to 6.4940. Upward momentum has dissipated and USD has likely moved into a consolidation phase. From here, USD could trade between 6.4730 and 6.5360 for a period of time.” 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 Premier Li: China’s 2021 GDP growth target of over 6% is not low FX Street 1 year UOB Group's FX Strategists see USD/CNH trading within the 6.4730-6.5360 range in the next weeks. Key Quotes 24-hour view: "Our expectation for USD to 'trade between 6.5050 and 6.5400' was incorrect as it fell to 6.4940. Despite the relatively sharp decline, downward momentum has not improved by much. However, there is room for USD to edge lower to 6.4870. Any weakness is not expected to challenge the next support at 6.4730. Resistance is at 6.5130 followed by 6.5280." Next 1-3 weeks: "We highlighted yesterday (10 Mar, spot at 6.5220) that 'a break of 6.5000 would indicate that the 3-week positive… 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.
