USD/CNH forecast to keep the side-lined theme - UOB

Market news

1 July 2021

USD/CNH forecast to keep the side-lined theme - UOB

FXStreet reports that UOB Group’s FX Strategists notes that USD/CNH is still seen within the 6.4300-6.4900 range in the next weeks.

24-hour view: “Despite the quiet price actions, we continue to see chance for USD to edge higher but a sustained rise above 6.4780 appears unlikely. Support is at 6.4600 followed by 6.4550.”

Next 1-3 weeks: “USD traded in a quiet manner the past couple of days and our update from Monday (28 Jun, spot at 6.4605) still stands. As highlighted, USD expected to trade sideways, likely within a 6.4300/6.4900 range.”

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