The current price action seems to be part of a phase of trade in rank of 147.65/148.85. In the long term, the strength of the USD has paused for now; It is expected to operate in a range of 146.90/149.20, the FX analysts of the UOB Group, quek be Leang and Peter Chia point out.
The current price action seems to be part of a 147.65/148.85
24 -hour vision: “After the volatile price action of two days ago, we indicated yesterday that ‘strong fluctuations have resulted in a mixed perspective.’ We believe that the USD ‘could continue to fluctuate, probably between 147.50 and 148.80.’ Subsequently, the USD operated in a higher range than expected (147.71/149.09) before closing at 148.60 (+0.50%).
Vision at 1-3 weeks: “After maintaining a positive posture of the USD for more than a week, we reviewed our perspective to neutral yesterday (July 16, Spot in 148.30). We declared that ‘The strength of the USD has paused for now,’ and we expected that ‘it would operate in a range of 146.90/149.20. Our perspective remains unchanged. “
Source: Fx Street
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