USD/CNH: Trading between 7.2790 and 7.2960 – UOB Group

The US Dollar (USD) is likely to trade in a sideways range between 7.2790 and 7.2960. USD, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann.

Rangebound between 7.2790 and 7.2960

24-HOUR VIEW: “Our expectation for USD to edge higher did not turn out, as it traded sideways between 7.2856 and 7.2974, closing at 7.2884 (-0.12%). Further sideways trading seems likely, probably in a range of 7.2790 and 7.2960.”

1-3 WEEKS VIEW: “Our update from two days ago (22 Jul, spot at 7.2870) still stands. As highlighted, the recent price action suggest that USD is still trading in a 7.2600/7.3100 range.”