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USD/CNH: Unlikely to break above 7.3350 - UOB Group
Breaking news
USD/CNH: Unlikely to break above 7.3350 - UOB Group
New
2025.04.15 19:39
2025.04.15 19:39
2025.04.15 19:39
US Dollar (USD) could edge higher vs Chinese Yuan (CNH), but any advance is unlikely to break above 7.3350. 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.
Sharp but short-lived price action results in a mixed outlook
24-HOUR VIEW: "Yesterday, we indicated that 'there is a chance for USD to dip below 7.2700.' We pointed out, 'Resistance levels are at 7.3150 and 7.3350.' Our view was incorrect, as USD rebounded from 7.2780 to 7.3249, closing at 7.3096, up by 0.42%. There has been a slight increase in upward momentum. Today, USD could edge higher, but any advance is unlikely to break above 7.3350. On the downside, support levels are at 7.3020 and 7.2950."
1-3 WEEKS VIEW: "Our latest narrative was from last Friday (11 Apr, spot at 7.3100), wherein 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.' There is no change in our view."
Last updated
: 2025.04.15
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USD/CNH: Unlikely to break above 7.3350 - UOB Group
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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
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