USD/CNH now appears exposed to some range bound trade within 6.7270-6.7950, note Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.
Key Quotes
24-hour view: “We highlighted yesterday that ‘the price movements are likely part of a broad consolidation range’ and we expected USD to ‘trade between 6.7300 and 6.7700’. USD subsequently traded within a narrower range than expected (6.7395/6.7598). Further consolidation appears likely, expected to be between 6.7400 and 6.7700.”
Next 1-3 weeks: “Last Friday (27 Jan, spot at 6.7310), we highlighted that downward momentum is building and we expected USD to weaken toward the month-to-date low near 6.6985. USD traded in a relatively quiet manner the past couple of days and downward momentum has faded quickly. USD is unlikely to weaken further. From here, USD is more likely to trade sideways within a range of 6.7270/6.7950.”
Peringatan: Pendapat yang disampaikan sepenuhnya merupakan milik penulis dan tidak mencerminkan posisi resmi Followme. Followme tidak bertanggung jawab atas keakuratan, kelengkapan, atau keandalan informasi yang disediakan, serta tidak bertanggung jawab atas tindakan apa pun yang diambil berdasarkan konten ini, kecuali dinyatakan secara tertulis.
Tinggalkan pesan Anda sekarang