USD/CNH risks a move lower to 6.7000 – UOB

Market news

8 October 2020

USD/CNH risks a move lower to 6.7000 – UOB

FXStreet reports that FX Strategists at UOB Group believe USD/CNH is poised for further downside in the next weeks.

24-hour view: “Our expectation for USD to ‘edge higher to 6.7600’ did not quite materialize as it traded in a quiet manner between 6.7276 and 6.7544. The underlying tone has weakened somewhat but while USD could edge lower but Monday’s (05 Oct) low of 6.7135 could be just out of reach (minor support is at 6.7200). Resistance is at 6.7450 but the stronger level is at 6.7550.”

Greek bonds rally to send 10-year yields to an all-time low

French economy rebounded 16% in third quarter: central bank

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.