USD/CNH faces extra losses on a breach of the 6.9300 area in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected USD to weaken yesterday but held the view that ‘a break of last week’s low at 6.9280 is unlikely’. USD subsequently dropped to 6.9305 before closing at 6.9326 (-0.10%). Downward momentum has improved further as USD took out 6.9280 after opening this morning and the risk for today, remains on the downside. From here, barring a move above 6.9370, USD is likely to weaken towards 6.9200, possibly a slow 6.9150.” Next 1-3 weeks: “We have held the same view since last Thursday (13 Aug, spot at 6.9315) wherein ‘if there is a NY closing below 6.9300, it would indicate the start of a period of sustained weakness in USD that could lead to a move to 6.9050, possibly even to 6.8850’. USD closed just above 6.9300 yesterday (6.9326, -0.10%) and the prospect for the start of a negative phase is rather high unless USD moves above 6.9400 within these 1 to 2 days.” 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 USD/CHF bounces off multi-year lows, turns flat around 0.9060 area FX Street 2 years USD/CNH faces extra losses on a breach of the 6.9300 area in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected USD to weaken yesterday but held the view that ‘a break of last week’s low at 6.9280 is unlikely’. USD subsequently dropped to 6.9305 before closing at 6.9326 (-0.10%). Downward momentum has improved further as USD took out 6.9280 after opening this morning and the risk for today, remains on the downside. From here, barring a move above 6.9370, USD is likely to weaken towards 6.9200, possibly a slow 6.9150.” Next 1-3 weeks:… 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.
