USD/CNH keeps the positive outlook unchanged so far – UOB – by pabspiovano China Currencies Crosses Banks
24-hour view: “Yesterday, we expected USD to strengthen but we were of the view that ‘a break of the major resistance at 6.8500 is unlikely today’. The anticipated USD strength exceeded our expectations as it surged to a high of 6.8710. While conditions are overbought, USD could continue to advance. However, a break above the major resistance at 6.8800 is unlikely today. Support is at 6.8580, a breach of 6.8420 would indicate that the current upward pressure has eased.
Next 1-3 weeks: “We have held a positive view in USD since early this month. In our latest narrative from three days ago , we highlighted that ‘the likelihood of USD breaking above 6.8500 has increased’. USD broke above 6.8500 yesterday and soared to a high of 6.8710. The 6.8800 level we indicated early this month appears to be within reach. A break of 6.8800 will shift the focus to 6.9000. Overall, we continue to hold a positive USD stance as long as it does not break below 6.8250 .
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
USD/CNH: Rising bets for a breakout of 6.8500 – UOBAccording to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, chances for USD/CNH to break above the 6.8500 level have been on
Consulte Mais informação »
SM Entertainment CEO Lee Sung Su Speaks Out Against Lee Soo Man In Detailed VideoSM Entertainment CEO Lee Sung Su Speaks Out Against Lee Soo Man In Detailed Video
Consulte Mais informação »
EUR/USD faces some consolidation within 1.0655-1.0815 – UOBIn the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, EUR/USD is now expected to trade between 1.0655 and 1.0815
Consulte Mais informação »
GBP/USD sticks to the range bound theme near term – UOBGBP/USD is now seen navigating within the 1.2040-1.2260 range in the short-term horizon, suggest UOB Group’s Economist Lee Sue Ann and Markets Strateg
Consulte Mais informação »
Further consolidation likely in AUD/USD for the time being – UOBUOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang note price action in AUD/USD is now seen within the 0.6865-0.7055 range in the
Consulte Mais informação »
NZD/USD could slip back to the 0.6220 region – UOBAccording to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, further selling pressure could drag NZD/USD to the 0.6220 in th
Consulte Mais informação »