Created
: 2024.09.20
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
USD/CNH: A downward bias towards 7.0500 - UOB Group
Breaking news
USD/CNH: A downward bias towards 7.0500 - UOB Group
New
2024.09.20 20:16
2024.09.20 20:16
2024.09.20 20:16
The US Dollar (USD) is likely to trade with a downward bias towards 7.0500, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
USD to trade towards 7.0500
24-HOUR VIEW: "Our view for USD to trade in a 7.0850/7.1150 range was incorrect, as it rose to 7.1133 and then plummeted to 7.0601. While the sharp drop appears to be running ahead of itself, there is scope for USD to break below 7.0600 today. The next support 7.0500 is unlikely to come into view. Resistance levels are at 7.0800 and 7.0970."
1-3 WEEKS VIEW: "On Tuesday (17 Sep, spot at 7.1005), we indicated that USD 'is likely to trade in a sideways range of 7.0700/7.1300.' Yesterday, USD fell and broke below 7.0700, reaching a low of 7.0601. Downward momentum has increased, albeit not much. From here, provided that USD remain 7.1100, we expect USD to trade with a downward bias towards 7.0500."
Last updated
: 2024.09.20
Related articles
USD/CNH: A downward bias towards 7.0500 - UOB Group
2024.09.20 20:15Dow Jones Industrial Average climbs into another record high
2024.09.20 02:37The Fed joins the easing cycle with a bang - TDS
2024.09.19 22:34Dow Jones Industrial Average churns ahead of red-band Fed rate call
2024.09.19 02:27USD/CNH: To trade in a sideways range of 7.0700/7.1300 - UOB Group
2024.09.18 19:42Dow Jones Industrial Average finds record high for second straight day
2024.09.18 02:24
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
GBP/USD: GBP stumbles after firm Retail Sales - Scotiabank
Stronger than expected August Retail Sales (up 1.0% in headline terms versus a 0.4% rise expected) drove the pound to its highest in 2 1/2 years against the USD and the highest in 2 years against the EUR, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2024.09.20 22:00AUD/USD Price Forecast: Continues posting green candlesticks as it pushes higher
AUD/USD keeps posting green candlesticks as it steadily creeps higher.
New
2024.09.20 21:47EUR/USD: Encounters better selling pressure in upper 1.11s - Scotiabank
EUR/USD retains a firm undertone but EUR has drifted off its best levels of the week as short-term yield spreads correct slightly from the peak seen earlier this week, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2024.09.20 21:37Switzerland didn't ship any Gold to China in August - Commerzbank
The Swiss customs authority published data on Gold exports on Thursday.
New
2024.09.20 21:34Gold price marks another record high - Commerzbank
Gold rises to new highs after the Fed's 50-basis-point interest rate cut.
New
2024.09.20 21:28BoC's Macklem: AI could destroy more jobs than it creates
Bank of Canada Governor Tiff Macklem said on Friday that the adoption of artificial intelligence (AI) could add to inflationary pressures in the near term, per Reuters.
New
2024.09.20 21:21China's Gold demand weakens as price reaches new record highs - Commerzbank
The upside potential in the Gold market may have been largely exhausted after the new record high of $2,600 per troy ounce, Commerzbank's commodity analyst Barbara Lambrecht notes.
New
2024.09.20 21:17GBP/JPY extends rally after UK Retail Sales and Mann's comments boost the Pound
GBP/JPY rises over one-and-a-quarter percentage points on Friday, to trade in the 191.80s, as it builds on considerable gains made throughout the week.
New
2024.09.20 21:01Norges Bank gets ready for the next rate cuts the following year - Commerzbank
Norges Bank ultimately did what was perceived reasonable by the markets.
New
2024.09.20 21:00USD/CAD: CAD drifts back to the upper 1.35s - Scotiabank
The Canadian Dollar (CAD) is drifting back to very familiar ranges this morning.
New
2024.09.20 20:59Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
