USD/CNH: FURTHER RANGE BOUND IN STORE NEAR TERM – UOB

avatar
· 閱讀量 127



There are no changes to the consolidative phase in USD/CNH for the time being, argue UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour view: We expected USD to trade with a downward bias yesterday. However, we were of the view that “any decline is unlikely to break the major support at 7.2500.” USD did not quite trade with a downward bias as it rebounded quickly from a low of 7.2700 and ended the day little changed at 7.2917 (-0.04%). The price movements appear to be consolidative, and USD is likely to trade sideways today, probably between 7.2800 and 7.3050. 

Next 1-3 weeks: Our latest narrative was from last Thursday (24 Aug, spot at 7.2840) when we highlighted that, “the recent buildup in upward momentum has eased, and USD is likely to trade in a range of 7.2500/7.3300 for the time being.” There is no change in our view


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。

喜歡的話,讚賞支持一下
回覆 0
暫無留言。 來發表第一則觀點吧。

  • tradingContest