Created
: 2025.03.11
- 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: Downward pressure remains intact - UOB Group
Breaking news
USD/CNH: Downward pressure remains intact - UOB Group
New
2025.03.11 19:19
2025.03.11 19:19
2025.03.11 19:19
USD is likely to trade in a 7.2400/7.2700 range vs Chinese Yuan (CNH). In the longer run, downward pressure remains intact; should USD break below 7.2260, the next level to watch is 7.2000, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Below 7.2260, the next level to watch is 7.2000
24-HOUR VIEW: "Our view for USD to trade sideways yesterday was incorrect. Instead of trading sideways, USD rose to a high of 7.2697, closing at 7.2637 (+0.23%). Despite the advance, there has been no significant increase in momentum, and instead of continuing to rise, USD is more likely to trade in a 7.2400/7.2700 range."
1-3 WEEKS VIEW: "In our most recent narrative from last Thursday (06 Mar, spot at 7.2440), we indicated that "the downward pressure remains intact, and should USD break below and hold below 7.2260, the next level to watch is 7.2000." Since then, USD has not been able to make further headway on the downside. That said, we will continue to hold the same view for now, provided that the 'strong resistance' at 7.2800 (no change in level) is not breached."
Last updated
: 2025.03.11
Related articles
Dow Jones Industrial Average drops further as trade war heats up
2025.03.12 01:42S&P 500: Next potential supports are at 5520 and 5400/5370 - Société Générale
2025.03.11 19:32USD/CNH: Downward pressure remains intact - UOB Group
2025.03.11 19:18Dow Jones Industrial Average resumes decline as sentiment withers
2025.03.11 02:31USD/CNH: Downward pressure remains intact - UOB Group
2025.03.10 19:38USD/CNH: China's economy is struggling to escape a deflationary spiral - BBH
2025.03.10 19:32
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
Silver Price Forecast: XAG/USD hovers near $33.00, four-month highs
Silver price (XAG/USD) loses ground after registering gains in the previous session, trading around $32.80 during the Asian hours on Wednesday.
New
2025.03.12 12:07GBP/USD trades with negative bias below mid-1.2900s, downside seems limited ahead of US CPI
The GBP/USD pair edges lower during the Asian session on Wednesday and erodes a part of the previous day's strong move up to over a four-month peak, around the 1.2965 area.
New
2025.03.12 12:02US CPI data set to show inflation edged lower in February as markets gauge Fed's rate cut path
The United States (US) Bureau of Labor Statistics (BLS) is set to publish the high-impact Consumer Price Index (CPI) inflation report for February on Wednesday at 12:30 GMT.
New
2025.03.12 12:00Japanese Yen retreats further from multi-month high set against USD on Tuesday
The Japanese Yen (JPY) continues losing ground against its American counterpart for the second straight day on Wednesday and moves away from the highest level since October touched the previous day.
New
2025.03.12 11:58USD/INR weakens as traders await Indian/US CPI inflation releases
The Indian Rupee (INR) rebounds on Wednesday. The potential foreign exchange intervention from the Reserve Bank of India (RBI) and strong Asian currencies, especially the offshore Chinese Yuan provide some support to the Indian currency.
New
2025.03.12 11:28NZD/USD remains subdued near 0.5700 ahead of US CPI data
NZD/USD edges lower after registering gains in the previous session, trading around 0.5710 during the Asian hours on Wednesday.
New
2025.03.12 11:05PM Albanese: Retaliatory measures would only increase costs for Australian consumers and fuel inflation
Australia's Prime Minister (PM) Albanese said on Wednesday that "retaliatory measures would only increase costs for Australian consumers and fuel inflation." PM Albanese confirmed that "Australia will not impose reciprocal tariffs on the United States (US)." His comments come after US President Donald Trump proceeded with 25% tariffs on all imported steel and aluminium.
New
2025.03.12 10:38PBOC sets USD/CNY reference rate at 7.1696 vs. 7.1741 previous
On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1696 as compared to the previous day's fix of 7.1741 and 7.2324 Reuters estimates.
New
2025.03.12 10:15Australian Dollar weakens due to increased risk aversion
The Australian Dollar (AUD) weakens against the US Dollar (USD) on Wednesday, weighed down by broad risk aversion.
New
2025.03.12 10:13Japan firms set to offer strong wage hikes for third straight year
Japan's largest companies are expected to offer substantial wage hikes for a third consecutive year, helping workers cope with inflation and retain staff amid labour shortages, per Reuters.
New
2025.03.12 10:07Disclaimer:
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
