USD/CNH: Rising bets for a move above 6.7400 – UOB – by pabspiovano China Currencies Crosses Banks
carries the potential to break above the 6.7400 level in the next weeks, commented FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “Yesterday, we expected USD to ‘consolidate between 6.6800 and 6.7100’. Instead of consolidating, USD popped to a high of 6.7243 before pulling back. Despite the pullback, the underlying tone is positive and we see room for USD to rise to 6.7270. The major resistance at 6.7400 is unlikely to come into the picture. Support is at 6.
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