FXStreet reports that FX Strategists at UOB Group suggest that further upside in USD/CNH could test the 6.4900 region in the short-term horizon.

24-hour view; “Yesterday, we held the view that USD ‘could dip towards 6.4560 first before a rebound can be expected’. USD subsequently dipped to 6.4585 before rebounding strongly to 6.4855. The rebound has gathered momentum and USD is likely to strengthen further. However, the chance for a clear break of 6.4900 is not high (next resistance is at 6.4945). Support is at 6.4750 followed by 6.4700.”

Next 1-3 weeks: “Shorter-term upward momentum has improved and from here, USD is expected to trade with an upward bias towards 6.4900. A break of this level is not ruled out but any further advance is expected to encounter solid resistance at 6.4950. Overall, only a breach of 6.4640 would indicate that the current upward pressure has eased.”