There is potential for the US dollar (USD) to fall below 7,1500 against the Chinese Yuan (CNH); It is not clear if there is enough impulse to reach 7,1450. 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: “We expected the USD ‘to be negotiated in a range of 7,1590/7,1780’ yesterday. Subsequently, the USD was negotiated between 7,1582 and 7,1706. The USD closed in 7,1584 before falling into the first Asian operations today. Given the increase in the impulse, there is potential for the USD to fall below 7,1500 today. There is enough impulse for the USD to reach 7,1450.
Vision at 1-3 weeks: “Last Wednesday (June 25, Spot in 7,1680), we highlight that ‘there has been an attempt accumulation of impulse, and it is likely that the USD goes down to 7,1450. Yesterday, the USD fell to a minimum of 7,1582.
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.
