Whenever the level of 7,2950 is not broken, there is the possibility that the US dollar (USD) falls below 7,2685 compared to the CNH (Chinese Yuan). It is unlikely that the next support in 7,2500 enters into play. In the long term, the USD must break and stay below 7,2500 before a sustained fall is probable, FX analysts of the UOB group, quek being Leang and Peter Chia.
Below 7,2500, a sustained fall is likely
24 -hour view: “We point out yesterday that ‘the impulse indicators remain plans, and we are still waiting for the USD to trade in a range between 70 and 7,3200.’ However, in a sudden movement, the USD collapsed and reached a minimum of 7,2685 in the late negotiation of NY. minor is in 7,2870), there is the possibility that the USD falls below the minimum of 7,2685 before a stabilization is likely.
View of 1-3 weeks: “We highlight last Friday (February 7, spot in 7,2865) that ‘although the perspective remains mixed, the decrease in volatility in recent days suggests that the USD could trade in a narrower range of 7,2500/7,3300. ‘ Yesterday, the USD abruptly fell to a minimum of 7,2685 Probability that the USD breaks clearly below 7,2500 will increase in the next few days whenever the level of 7,3070 is not broken. “
Source: Fx Street
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