FX Strategists at UOB Group still believe USD/CNH could edge higher to the 6.5200 area in the next weeks. Key Quotes 24-hour view: “USD dropped to 6.4746 before closing lower at 6.4810 (-0.23%). The underlying tone has weakened and there is room for USD to test 6.4650 first before a recovery can be expected. Resistance is at 6.4860 followed by 6.4970.” Next 1-3 weeks: “We highlighted on Monday (18 Jan, spot at 6.4680) that ‘upward momentum is beginning to improve and a clear break of 6.4900 could lead to a move to 6.5200’. While USD subsequently broke 6.4900, it retreated quickly after touching 6.5075. Upward momentum has been dented somewhat but there is still chance for USD to move 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 just yet.” 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 Bank of Canada Preview: Forecast from nine major banks FX Street 2 years FX Strategists at UOB Group still believe USD/CNH could edge higher to the 6.5200 area in the next weeks. Key Quotes 24-hour view: “USD dropped to 6.4746 before closing lower at 6.4810 (-0.23%). The underlying tone has weakened and there is room for USD to test 6.4650 first before a recovery can be expected. Resistance is at 6.4860 followed by 6.4970.” Next 1-3 weeks: “We highlighted on Monday (18 Jan, spot at 6.4680) that ‘upward momentum is beginning to improve and a clear break of 6.4900 could lead to a move to 6.5200’. While USD subsequently broke 6.4900, it retreated… 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.
