The USD will probably be consolidated between 7,1600 and 7,1750. In the long term, current price movements are probably part of a negotiation phase between 7,1550 and 7,1850, the FX analysts of UOB Group, quek being Leang and Peter Chia point out.
Current price movements are probably part of a negotiation phase in range
24 -hour vision: “Although we expected the USD ‘to go down slightly’ yesterday, we had the opinion that ‘any fall is probably limited to a 7,1500 test.’ However, after falling to a minimum of 7,1570, the USD briefly shot at a maximum of 7,1740.
Vision at 1-3 weeks: “We have waited a lower USD since last week. In our most recent narrative on Tuesday (July 1, a 7,1570), we indicate 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. Yesterday, the USD reached a maximum of 7,1740.
Source: Fx Street
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