USD/CNH moved into a 6.5400-6.6200 range - UOB

FXStreet reports that FX Strategists at UOB Group see USD/CNH consolidating within the 6.5400-6.6200 range in the next weeks.

24-hour view: “USD traded between 6.5637 and 6.5802 last Friday, narrower than our expected consolidation range of 6.5550/6.5780. The quiet price actions offer no fresh clues and USD could continue to consolidate, expected to be within a 6.5560/6.5820 range.”

Next 1-3 weeks: “...the recent weak phase in USD has ended and the current movement is viewed as part of a consolidation phase. From here, USD is expected to trade between 6.5400 and 6.6200 for a period of time.”