FXStreet reports that FX Strategist at UOB Group remain bearish on USD/CNH but a move to the 0.6030 level looks unlikely in the near-term.

24-hour view: “While we expected USD to weaken further yesterday, we held the view that ‘a sustained drop below the major support at 6.6450 is unlikely’. We clearly underestimated the weakness in USD as it plunged to a low of 6.6275. Downward momentum is beginning to show sign of slowing and this coupled with the still rather oversold conditions suggests that further USD weakness is unlikely for today. That said, it is too early to expect a sustained recovery. USD is more likely to consolidate and trade between 6.6300 and 6.6650.”