USD/CNH moved into a consolidative phase – UOB
|According to FX Strategists at UOB Group, USD/CNH is still seen trading between 6.4359 and 6.4880 for the time being.
Key Quotes
24-hour view: “USD traded between 6.4540 and 6.4691 yesterday, narrower than our expected consolidation range of 6.4520/6.4700. The quiet price actions offer no fresh clues and further consolidation appears likely. Expected range for today, 6.4530/6.4730.”
Next 1-3 weeks: “There is not much to add to our update from last Friday (24 Sep, spot at 6.4610). As highlighted, USD is still in a consolidation phase and could trade between 6.4350 and 6.4880 for a period of time.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.