Provided that 7.2950 is not breached, there is a chance for US Dollar (USD) to drop below 7.2685 against CNH (Chinese Yuan). The next support at 7.2500 is unlikely to come into view.
Provided that 7.2950 is not breached, there is a chance for US Dollar to drop below 7.2685 against CNH . The next support at 7.2500 is unlikely to come into view. In the longer run, USD must break and remain below 7.2500 before a sustained decline is likely, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Below 7.
2950 is not breached, there is a chance for USD to dip below the 7.2685 low before stabilisation is likely. The next support at 7.2500 is unlikely to come into view.1-3 WEEKS VIEW: We highlighted last Friday that 'while the outlook remains mixed, the decreasing volatility over the past couple of days suggests USD could trade in a narrower range of 7.2500/7.3300.' Yesterday, USD fell sharply to a low of 7.2685.
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