Created
: 2025.04.14
- 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: Likely to trade between 7.2430 and 7.3700 for now - UOB Group
World FX news
Breaking news
USD/CNH: Likely to trade between 7.2430 and 7.3700 for now - UOB Group
New
2025.04.14 20:40
2025.04.14 20:40
2025.04.14 20:40
Chance for US Dollar (USD) to dip below 7.2700; the major support at 7.2430 seems to be out of reach. In the longer run, sharp but short-lived price action has resulted in a mixed outlook; USD is likely to trade between 7.2430 and 7.3700 for now.
Short-lived price action has resulted in a mixed outlook
24-HOUR VIEW: "We expected USD to weaken last Friday, but we indicated that 'oversold conditions suggest any decline is unlikely to reach the major support at 7.2430. We added, 'there is another support at 7.2700.' USD fell less than expected to 7.2788. Although there has been no further increase in downward momentum, there is a chance for USD to dip below 7.2700. The major support at 7.2430 still seems to be out of reach. Resistance levels are at 7.3150 and 7.3350."
1-3 WEEKS VIEW: "Our update from last Friday (11 Apr, spot at 7.3100) still stands. As highlighted, the recent 'sharp but short-lived price action has resulted in a mixed outlook.' For the time being, we expect USD to "trade between 7.2430 and 7.3700."
Last updated
: 2025.04.14
Related articles
USD/CNH: Unlikely to break above 7.3350 - UOB Group
2025.04.15 19:38Dow Jones Industrial Average struggles to hold onto tariff-fueled gains
2025.04.15 01:34USD/CNH: Likely to trade between 7.2430 and 7.3700 for now - UOB Group
2025.04.14 20:39Dow Jones Industrial Average gains ground as investors try to shrug off new tariffs from China
2025.04.12 03:40USD/CNH: Any decline is unlikely to reach the major support at 7.2430 - UOB Group
2025.04.11 20:12Dow Jones Industrial Average rockets higher on tariff suspension
2025.04.10 04:15
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
India Gold price today: Gold hits lifetime highs on renewed US Dollar weakness
Fears of the US-China trade war escalation and its impact on the US economy remain unabated, driving a fresh leg down in the US Dollar.
New
2025.04.16 15:32EUR/GBP holds positive ground above 0.8550 after UK CPI inflation data
The EUR/GBP cross gains momentum to near 0.8565 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the Euro (EUR) after the UK Consumer Price Index (CPI) inflation report.
New
2025.04.16 15:11FX option expiries for Apr 16 NY cut
FX option expiries for Apr 16 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
2025.04.16 14:25USD/CHF drops to mid-0.8100s, back closer to multi-year low on weaker USD
The USD/CHF pair attracts fresh sellers during the Asian session on Wednesday and erodes a major part of the previous day's modest recovery gains.
New
2025.04.16 14:23USD/CAD Price Forecast: Breaks below 1.3950 as bearish bias prevails
The USD/CAD pair slips slightly after posting gains in the previous session, trading near 1.3940 during Wednesday's Asian session. Technical analysis on the daily chart indicates a prevailing bearish trend as the pair continues to move lower within a descending channel.
New
2025.04.16 14:06Gold price buying remains unabated; fresh all-time high and counting amid trade jitters
Gold price (XAU/USD) scales higher for the second straight day on Wednesday - also marking the fifth day of a positive move in the previous six - and touches a fresh record high, around the $3,283-3,284 area during the Asian session.
New
2025.04.16 13:38EUR/USD rises to near 1.1350 ahead of Eurozone HICP inflation data
EUR/USD is trading around 1.1340 during the Asian hours on Wednesday, rebounding after two consecutive sessions of losses.
New
2025.04.16 13:35Silver Price Forecast: XAG/USD edges higher to near $32.50 due to safe-haven demand
Silver price (XAG/USD) is inching higher after recent losses, trading around $32.30 per troy ounce during Wednesday's Asian session. The uptick comes as lingering uncertainty over US trade policy continues to fuel safe-haven demand for the precious metal.
New
2025.04.16 12:40USD/INR weakens ahead of US Retail Sales release, Fed's Powell speech
The Indian Rupee (INR) trades in positive territory for the fifth consecutive day on Wednesday. The weakening of the US Dollar (USD) and the extended decline in crude oil prices eased the Indian currency's losses.
New
2025.04.16 12:29GBP/USD extends rally to fresh six-month highs near 1.3250 ahead of UK CPI data
The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3250 during Wednesday's Asian session. Earlier in the day, it touched a fresh six-month high at 1.3256.
New
2025.04.16 11:53Disclaimer:
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
