FXStreet reports that FX Strategists at UOB Group suggest that USD/CNH could extend the upside to the 6.7650-region in the next weeks.

24-hour view: “Yesterday, we held the view that USD ‘could strengthen further but overbought conditions suggest a sustained rise above 6.7450 is unlikely’. While USD strengthened as expected, it only touched a high of 6.7371. Conditions remain overbought but the current advance appears to have enough momentum for another push to 6.7450. For today, a sustained rise above this level is unlikely. Support is at 6.7110 followed by 6.6900.”

Next 1-3 weeks: “Upward momentum has improved and if USD were to break 6.7450, the next level to focus on is at 6.7650. Overall, USD is expected to trade with an upward bias as long as it does not move below 6.6750 (‘strong support’ level previously at 6.6600).”