USD/CNH still faces a mixed outlook - UOB

Market news

9 September 2021

USD/CNH still faces a mixed outlook - UOB

FXStreet reports that FX Strategists at UOB Group note that USD/CNH is seen within the 6.4300/6.4800 range for the time being.

24-hour view: “Yesterday, we expected USD to ‘consolidate and trade between 6.4540 and 6.4660’. Our view was not wrong even though USD traded within a narrower range than expected (6.4544/6.4633). The quiet price actions offer no fresh clues and further consolidation would not be surprising. Expected range for today; 6.4530/6.4680.”

Next 1-3 weeks: “As highlighted, the outlook for USD is mixed and it could trade within a 6.4300/6.4800 range for a period of time.”

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