The upside momentum in USD/CNH could still reach the 6.5200 region in the next weeks. Key Quotes 24-hour view: “We expected USD to weaken further yesterday but we were of the view that ‘any decline is expected to face solid support at 6.4450’. However, USD traded in a relatively quiet manner between 6.4561 and 6.4705. Upward momentum is beginning to build-up and USD is likely to edge higher from here. That said, any advance is expected to face solid resistance at 6.4880. Support is 6.4600 followed by 6.4550.” Next 1-3 weeks: “There is not much to add to our update from Wednesday (20 Jan, spot at 6.4800). As highlighted, while upward momentum has been dented, there is still chance for USD to move to 6.5200. Only a break of 6.4450 (no change in ‘strong support’ level) would indicate that USD is not ready to move to 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 EUR/USD defies gravity, ready to challenge strong resistance Yohay Elam 2 years The upside momentum in USD/CNH could still reach the 6.5200 region in the next weeks. Key Quotes 24-hour view: “We expected USD to weaken further yesterday but we were of the view that ‘any decline is expected to face solid support at 6.4450’. However, USD traded in a relatively quiet manner between 6.4561 and 6.4705. Upward momentum is beginning to build-up and USD is likely to edge higher from here. That said, any advance is expected to face solid resistance at 6.4880. Support is 6.4600 followed by 6.4550.” Next 1-3 weeks: “There is not much to add to our update… 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.
