In opinion of FX Strategists at UOB Group, USD/CNH could attempt to reach the 6.90 region in the next weeks. Key Quotes 24-hour view: “Our expectation for USD to trade sideways was wrong as it lurched lower and plummeted to an overnight low of 6.9375. Downward momentum has picked and from here, USD is expected to weaken further to 6.9250. Resistance is at 6.9500 but the stronger level is at 6.9700.” Next 1-3 weeks: “We expected the ‘pullback in USD to extend to 6.9400’ on Monday (02 Mar, spot at 6.9770). The anticipated weakness occurred at a faster pace than anticipated as USD plummeted to an overnight low of 6.9375 yesterday. Downward has improved and from here, USD is expected to weaken further to 6.9000. On the upside, the ‘strong resistance’ level has moved to 6.9950 from 7.0100.” 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/JPY clings to gains above 107.50 after ADP data, eyes on Wall Street FX Street 2 years In opinion of FX Strategists at UOB Group, USD/CNH could attempt to reach the 6.90 region in the next weeks. Key Quotes 24-hour view: “Our expectation for USD to trade sideways was wrong as it lurched lower and plummeted to an overnight low of 6.9375. Downward momentum has picked and from here, USD is expected to weaken further to 6.9250. Resistance is at 6.9500 but the stronger level is at 6.9700.” Next 1-3 weeks: “We expected the ‘pullback in USD to extend to 6.9400’ on Monday (02 Mar, spot at 6.9770). The anticipated weakness occurred at a faster pace than… 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.
