The US dollar (USD) could rise slightly in front of the Chinese Yuan (CNH), but any advance is probably part of a higher range of 7,1720/7.1920. In the long term, the USD is expected to be negotiated in a range between 7,1550 and 7,1920, the FX analysts of UOB Group, to be Leang and Peter Chia.
The USD is expected to be negotiated in a range
24 hours: “We expected the USD ‘to be located laterally between 7,1630 and 7,1780’ yesterday. Instead of trade laterally, the USD rose to a maximum of 7,1871 before closing at 7,1825 (+0.14%). Despite progress, the USD has not gained much impulse. Today, the USD could rise slightly, but any progress is probably part of a higher range of a higher range of 7.1720/7.1920. “
Perspective 1-3 weeks: in our update two days ago (July 14, for 7,1730), we highlight that the USD “is expected to be negotiated in a range between 7,1550 and 7.1920.” Yesterday, the USD rose to a maximum of 7,1871. There has been a slight increase in the bullish impulse, but not enough to indicate sustained advance. At the moment, we continue waiting for the USD to be negotiated in a range. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
