Ekonomické zprávy
27.10.2021

USD/CNH still risks a move lower - UOB

FXStreet reports that FX Strategists at UOB Group still see the chance that USD/CNH could slip back to the 6.3525 level in the next weeks.

24-hour view: “...The quiet price actions indicate further sideway-trading is likely. Expected range for today, 6.3700/6.3900.”

Next 1-3 weeks: “After the outsized sell-off in USD, we highlighted last Wednesday (20 Oct, spot at 6.3780) that while the sell-off appears to be overdone, there is scope for USD to drop to May’s low near 6.3525. There is no change in our view for now. The downside risk is intact as long as USD does not move above the ‘strong resistance’ level at 6.4200.”

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