USD/CNH keeps the positive outlook in place – UOB – by pabspiovano China Currencies Crosses Banks
24-hour view: “We expected ‘further USD gains’ last Friday but we held the view that ‘the major resistance at 6.9000 is likely out of reach today’. Our view was correct as USD rose to 6.8966 before staging a sharp and swift pullback . The price movements are likely part of a consolidation and we expect USD to trade sideways between 6.8650 and 6.8880 today.”for USD remains positive and the focus is at 6.9000’. USD subsequently rose to 6.8966 before pulling back.
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