The US Dollar (USD) could weaken further; any decline is unlikely to reach the strong support at 7.2000.
The US Dollar could weaken further; any decline is unlikely to reach the strong support at 7.2000. In the longer run, momentum is beginning to slow; a breach of 7.2000 would mean that USD is not rising further, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Below 7.2000 USD is set to stop rising further 24-HOUR VIEW: “We noted yesterday that ‘there has been a slight increase in momentum.
’ Our view did not turn out, as USD traded in a sideways range of 7.2250/7.2488, closing at 7.2331 . We continue to detect a soft underlying tone, and we continue to hold the view that USD could weaken. However, the strong support at 7.2000 is still likely out of reach . Resistance levels are at 7.2400 and 7.2490.” 1-3 WEEKS VIEW: “After expecting a higher USD for more than a week, we indicated on Monday that ‘momentum is beginning to slow, and if USD breaks below 7.
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: Unlikely to reach the strong support at 7.2000The US Dollar (USD) could weaken further; any decline is unlikely to reach the strong support at 7.2000.
Read more »
USD/CNH: Can reach 7.1330 short termThe US Dollar (USD) is likely to trade in a range between 7.0990 and 7.1330.
Read more »
New Diddy rape claim targets ‘male and female celebrity’ at the 2000 VMAs afterpartyNot surprisingly, the reference to the 2000 VMAs in the new lawsuit against Combs has set off an online guessing game over the identity of the two unnamed celebrities.
Read more »
USD/CNH: To edge higher to 7.1500 before levelling offRoom for the US Dollar (USD) to edge higher to 7.1500 before levelling off.
Read more »
Russell 2000 Bulls Still in Play If 20-Day MA Support HoldsStocks Analysis by Declan Fallon covering: S&P 500, US Small Cap 2000, iShares Russell 2000 ETF, NASDAQ Composite. Read Declan Fallon's latest article on Investing.com
Read more »
USD/CNH: Momentum is slowing – UOB GroupRoom for USD to rise to 7.1500; a sustained break above this level seems unlikely.
Read more »