The US dollar (USD) is expected to be a range between 7,1730 and 7,1880 against the Chinese yuan (CNH). In the long term, the increase in impulse suggests that the USD could rise, but it is too early to wait for 7.2000 to be in sight, FX analysts of UOB Group, to be Leang and Peter Chia.
Above 7,1630, the USD could rise to 7,1900
24-hour vision: “Our expectation that the USD ‘would fall slightly and prove 7,1720’ did not materialize, since it was negotiated in a range of 7,1769/7,1843 before closing largely without changes in 7,1783 (-0.08%). The price action is probably part of a phase of trade in range. 7.1880. “
Vision at 1-3 weeks: “Our most recent narrative was Wednesday (July 9, Spot in 7.1825), in which ‘the increase in ascending impulse suggests that the USD could rise above 7,1900, but it is too early to wait for 7.2000 to be in sight.’ While the USD has not been able to advance further up, provided that the USD is maintained above 7,1630 (without change in the level of ‘strong support’), there is still an opportunity for the USD to rise above 7,1900. “
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.
