FXStreet reports that FX Strategists at UOB Group discuss USD/CNH prospects.

Next 1-3 weeks: “Our latest narrative was from Monday where we held the view that the outlook for USD remains mixed and it could trade within a 6.4240/6.4800 range. USD dropped to within several pips of 6.4240 yesterday (low of 6.4251) before rebounding slightly. Downward momentum is beginning to build but USD has to close below 6.4200 before a sustained decline can be expected. The odds for USD to close below 6.4200 are relatively high as long as USD does not move above 6.4540 (‘strong resistance’ level) within these couple of days. Looking ahead, a daily closing below 6.4200 would indicate that USD could weaken further to 6.4000.”