FXStreet reports that FX Strategists at UOB Group still believe USD/CNH could drop and test the 6.7000 area in the next weeks.

Next 1-3 weeks: “Our latest narrative was from last Friday (02 Oct, spot at 6.7600) wherein USD ‘could weaken further but the major support at 6.7165 could be out of reach this time round’. In other words, we did not anticipate the sudden surge in downward momentum as USD plunged to a low of 6.7135 yesterday (05 Oct). From here, further weakness appears likely and the focus now is at the round-number support level of 6.7000. On the upside, the ‘strong resistance’ level has moved lower to 6.7700 from 6.8250.”