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USD/CNH is still likely to trade between 7.2800 and 7.3600 in the next few weeks, comment Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.
24-hour view: We highlighted yesterday that USD “could continue to advance, but it is highly unlikely to reach the major resistance at 7.3600.” We also highlighted that “there is another resistance at 7.3400.” Our expectations did not materialise as USD traded sideways between 7.3129 and 7.3315. The price action appears to be part of a consolidation, and further sideways trading will not be surprising, likely in a range of 7.3100/7.3300.
Next 1-3 weeks: Our update from yesterday (03 Sep, spot at 7.3215) still stands. As highlighted, USD is likely to trade in a range for now, probably between 7.2800 and 7.3600
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。

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