The US dollar (USD) is expected to rise in front of the Chinese yuan (CNH); Any advance is unlikely to reach 7,2650. In the long term, current price movements are probably part of a consolidation range of 7,2100/7,2800, the FX analysts of UOB Group, quek being Leang and Peter Chia.
Price movements are part of a consolidation range of 7,2100/7,2800
24 -hour vision: “Yesterday, we consider that the USD ‘will probably be negotiated in a range between 7,2230 and 7,2520.’ Then, the USD was negotiated in a range of 7,2301/7,2533.
Vision at 1-3 weeks: “After maintaining a negative vision of the USD since the end of last week, we indicated two days ago (March 12, quotation in 7,2330) that ‘although there has not been a significant increase in the bearish impulse, the USD could potentially fall to 7.2000.’ Since then, the USD has not been able to advance further down, and the bearish impulse has decreased.
Source: Fx Street
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