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: 2024.12.13
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USD/CNH: Set to consolidate in recent range - OCBC
Breaking news
USD/CNH: Set to consolidate in recent range - OCBC
New
2024.12.13 20:53
2024.12.13 20:53
2024.12.13 20:53
USD/CNH stayed bid but largely capped below 7.30. Pair was last at 7.2830 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
PBOC policymakers are looking for relative stability
"Berish momentum on daily chart shows signs of fading while RSI rose. Consolidation likely in recent range as PBOC daily fixing suggests policymakers are looking for relative stability. Support at 7.26 (21 DMA), 7.2340 (23.6% fibo retracement of Sep low to Dec high) and 7.2040 (200 DMA). Resistance at 7.2940, 7.3150 levels."
"2-day CEWC concluded with President Xi signalling for more borrowing and spending in 2025. Officials also reiterated their pledges to keep the Chinese currency stable at reasonable and equilibrium levels."
Last updated
: 2024.12.13
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2024.12.14 03:32USD/CNH: Set to consolidate in recent range - OCBC
2024.12.13 20:52USD/CNH: Expected to trade in a 7.2550/7.2900 range - UOB Group
2024.12.13 20:48USD/CNH: 2-day CEWC meeting wraps up today - OCBC
2024.12.12 19:13USD/CNH: To trade between 7.2500 and 7.2900 - UOB Group
2024.12.12 19:05USD/CNH: To trade between 7.2400 and 7.2900 - UOB Group
2024.12.11 18:57
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