Further upside in USD/CNH now seems to have lost traction, argue Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
24-hour view: Yesterday, we expected USD to trade sideways between 7.2800 and 7.3300. USD then traded in a narrower range of 7.2827/7.3075. The underlying tone has softened, and USD is likely to edge lower. However, any decline is unlikely to break clearly below 7.2680. Resistance is at 7.2920, followed by 7.3050.
Next 1-3 weeks: We have held the same view since Monday (21 Aug, spot at 7.3100), wherein USD could consolidate for a few days before breaking above last week’s high of 7.3490. While USD consolidated over the past few days, there are no signs of it breaking above 7.3490. Upward momentum has eased, instead of breaking above 7.3490, USD is more likely to trade in a range of 7.2500/7.3300 for the time being.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無留言。 來發表第一則觀點吧。