The US dollar (USD) will probably weaken in front of the Chinese Yuan (CNH), but any fall will probably be limited to a 7,1500 test. In the long term, the downward impulse has increased even more; If the USD breaks below 7,1450, the next level to be monitored is 7,1300, the FX analysts of UOB Group, quek be Leang and Peter Chia point.
The downward impulse has increased even more
24 -hour vision: “Yesterday we point out that ‘current price movements are probably part of a range of trade in rank, probably between 7,1530 and 7,1730.’ The USD was then negotiated in an adjusted range of 7,1607/7,1698, largely closing without changes in 7,1623 (+0.02%). resistance levels are at 7,1655 and 7,1720. “
Vision at 1-3 weeks: “We highlight two days ago (July 1, spot in 7,1570) that ‘the downward impulse has increased even more, and if the USD breaks below 7,1450, the next level to monitor is at 7,1300.’ Although the USD has negotiated in a calm way in recent days, we will maintain our vision while 7,1790 (without change in the level of strong resistance ‘) remains intact. “
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.
