USD/CNH: A drop to 7.0200 appears on the cards – UOB – by pabspiovano China Currencies Crosses Banks
could extend the decline to the 7.0200 region in the short term, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “The sharp plunge in USD yesterday came as a surprise . The decline appears to be overdone but USD could test the 7.0200 first before the risk of rebound increases. The next support at 7.0000 is unlikely to come under threat today. Resistance is at 7.0800, followed by 7.1000.
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