USD/CNH is expected to keep the 6.3050-6.3450 range unchanged in the next weeks, commented FX Strategists at UOB Group.
Key Quotes
24-hour view: “We expected USD to trade sideways within a range of 6.3100/6.3300 yesterday. Our view for sideway trading was not wrong even though USD traded within a narrower range than expected (6.3184/6.3302). Momentum indicators are still neutral and further sideway-trading would not be surprising. Expected range for today, 6.3140/6.3340.”
Next 1-3 weeks: “There is not much to add to our update from Tuesday (07 Mar, spot at 6.3240). As highlighted, the outlook is mixed and USD could trade between 6.3050 and 6.3450 for now.”
