US Dollar (USD) is under mild downward pressure; it could edge lower to 7.2540.
US Dollar is under mild downward pressure; it could edge lower to 7.2540. The major support at 7.2400 is unlikely to be tested. In the longer run, current price movements are likely part of range trading, probably between 7.2400 and 7.2900, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. The major support at 7.
2927 before dropping sharply 7.2575. This time around, there has been a slight increase in downward momentum. Today, USD is likely to edge lower to 7.2540. The major support at 7.2400 is unlikely to be tested. Resistance is at 7.2760; a breach of 7.2830 would indicate that the current mild downward pressure has eased.” 1-3 WEEKS VIEW: “There is not much to add to our update from last Friday .
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