The US Dollar (USD) is expected to trade in a 7.2300/7.2650 range.
The US Dollar is expected to trade in a 7.2300/7.2650 range. USD must break and remain below the 7.2037 low before further weakness can be expected, UOB Group FX analysts Quek Ser Leang and Peter Chia note. USD must break below 7.2037 to continue downwards 24-HOUR VIEW: “While we expected USD to break below 7.2600 yesterday, we were of the view that 7.2500 could be out of reach. The subsequent spike in volatility was surprising, as USD nose-dived to 7.2037 and then rebounded to close at 7.2405 .
Today, we expect USD to trade in a 7.2300/7.2650 range.” 1-3 WEEKS VIEW: “We turned negative in USD yesterday , indicating that it ‘is likely to trade with a downward bias towards 7.2500, with a lower probability of it reaching 7.2400.’ We did not anticipate the subsequent wild price action, as USD plunged to 7.2037 and then snapped back up. While further USD weakness is not ruled out, it must break and remain below the 7.2037 low before further decline can be expected.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CNH: The pair can break above 7.3100The US Dollar (USD) is likely to trade in a range, probably between 7.2920 and 7.3060.
Read more »
USD/CNH: A break below 7.2800 might weigh the USDBarring a break below 7.2920, the US Dollar (USD) could rise and test the major resistance level at 7.3100.
Read more »
Get Gephardt helps West Jordan neighborhood's mapping issue on Google MapsPeople living in a West Jordan neighborhood near 7200 South and 2300 West have been missing out on packages because Google Maps sends drivers to the wrong place.
Read more »
Walmart to adopt digital shelf price tagsThe 2,300 Walmart stores will get them within the next two years.
Read more »
USD/CNH: The pair faces a small chance to fall to 7.2800– UOB GroupThe US Dollar (USD) could decline further, but it is unlikely to threaten the support at 7.2800.
Read more »
USD/CNH: The next resistance above 7.3100 is at 7.3200The US Dollar (USD) could edge above 7.3100. The next resistance at 7.3200 is unlikely to come into view, but it is too early to tell if the next significant resistance at 7.3400 will come into view, UOB Group analysts note.
Read more »