Extra decline in USD/CNH looks unlikely in the near term, argue UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Key Quotes
24-hour view: Yesterday, we highlighted that USD could rise above 7.2180. We added, “the major resistance at 7.2500 is unlikely to come into view.” USD then rose to a high of 7.2368 and pulled back. The pullback in overbought conditions and slowing momentum suggests USD is not rising further. Today, we expect USD to trade in a range, likely between 7.2000 and 7.2350.
Next 1-3 weeks: There is not much to add to our update from yesterday (19 Jul, spot at 7.1950). As highlighted, after dropping sharply over the past week, USD is unlikely to weaken further. For the time being, USD is likely to trade in a range, probably between 7.1500 and 7.2500.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
