24-hour view: We highlighted yesterday that “there is room for USD to advance, but it is unlikely to threaten the major resistance at 7.3400.” Our expectations did not materialise as USD traded sideways in a tight range between 7.3061 and 7.3162 before closing largely unchanged at 7.3100 (-0.08%). Momentum indicators are mostly neutral, and further sideways trading is likely. Expected range for today; 7.3000/7.3200. 

Next 1-3 weeks: We continue to hold the same view as last Thursday (21 Sep, spot at 7.3150), wherein the recent downward pressure has faded, and USD is likely to trade in a range, probably between 7.2800 and 7.3400.