The underlying tone that is softened can lead to the US dollar (USD) to lower and try 7,1720 against the Chinese yuan (CNH). In the long term, the increase in impulse suggests that the USD can rise, but it is too early to wait for 7.2000 to be in sight, the FX analysts of UOB Group, to be Leang and Peter Chia.
The increase in impulse suggests that the USD can rise
24 -hour vision: “When the USD was in 7,1825 yesterday, we highlight that ‘there is a possibility that the USD rises above 7,1900, but it might not be able to maintain a position above this level.’ Our opinion did not materialize, since the USD rose to 7,1881 before finishing the day to a large extent without changes (7,1843, +0.04%). On the positive side, resistance levels are in 7,1840 and 7,1900. “
Vision at 1-3 weeks: “Yesterday (July 9, par at 7,1825), we highlight that ‘the increase in the bullish impulse suggests that the USD can rise above 7,1900.’ The USD then rose to 7,1881 before retreating.
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.
