The US dollar (USD) will probably consolidate between 7,1920 and 7,2150. In the long term, for now, the USD will probably be traded in a range between 7,1800 and 7,2300, the FX analysts of UOB Group, to be Leang and Peter Chia.
The USD will probably trade in a range
24 -hour view: “When the USD was at 7,2040 yesterday, we indicated that ‘there is a possibility that the USD exceeds 7,2100 before stabilizing.’ We also indicate that ‘the next resistance in 7,2180 is unlikely to be in danger.’ While the USD subsequently rose more than expected to 7,2240, it went back from the maximum to close little changed at 7,2090 (+0.04%).
View 1-3 weeks: “Our last narrative was last Thursday (May 29, for 7,2025), where the USD ‘will probably trade in a range between 7,1800 and 7,2300 for now.’ The USD rose to 7,2240 yesterday and then retreated.
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.
