Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group note that further downside looks likely once USD/CNH breaches the 7.2800 level.
Key Quotes
24-hour view: Our view from last Friday was that USD “could decline towards 7.2800, but it is unlikely to break below this major support level.” Our view was not wrong, as USD dropped to a low of 7.2812 before rebounding. The rebound has room to extend, but it is unlikely to break the strong resistance level at 7.3200. Support is at 7.2950, followed by 7.2850.
Next 1-3 weeks: Last Friday (29 Sep, spot at 7.2975), we highlighted that “downward momentum is beginning to build.” We added, USD “has to break and stay below 7.2800 before a sustained decline is likely.” USD then dropped to a low of 7.2812 before rebounding. We continue to hold the same view for now. If USD breaks above 7.3200 (no change in ‘strong resistance’ level), it would mean that USD is likely to continue to trade in a range.
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。
古いコメントはありません。ソファをつかむ最初のものになりましょう。