FXStreet reports that FX Strategists at UOB Group noted that USD/CNH faces extra gains on a breakout of the 6.5050 level.

Next 1-3 weeks: “Our latest narrative was from last Friday where we indicated that ‘risk is still for a lower USD but any weakness is expected to encounter solid support at 6.4700’. USD dropped to 6.4713 before rebounding. The rebound ahead of the solid support coupled with oversold conditions suggests that the prospect for further USD weakness is not high. That said, only a break of 6.5050 (‘strong resistance’ level previously at 6.5200) would indicate that the weakness in USD that started about 2 weeks ago has come to an end.”