Created
: 2025.05.15
- 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: The support at 7.1700 is back in sight - UOB Group
World FX news
Breaking news
USD/CNH: The support at 7.1700 is back in sight - UOB Group
New
2025.05.15 19:39
2025.05.15 19:39
2025.05.15 19:39
Further sideways trading seems likely; firmer underlying tone suggests a higher range of 7.1950/7.2200. In the longer run, renewed downward momentum suggests 7.1700 is back in sight, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Further sideways trading seems likely
24-HOUR VIEW: "USD dropped to 7.1791 on Tuesday and rebounded. Yesterday, Wednesday, we indicated that 'downward momentum has faded with the rebound.' We also indicated that USD 'is likely to trade sideways, probably between 7.1850 and 7.2100.' USD then traded in 7.1919/7.2158 range, closing at 7.2118, up by 0.21%. While further sideways trading still seems likely, the firmer underlying tone suggests a higher range of 7.1950/7.2200."
1-3 WEEKS VIEW: "We have held a negative USD view since early last week. As we tracked the price movements, we indicated two days ago (13 May, spot at 7.2000) that 'the renewed downward momentum suggests 7.1700 could be back in sight.' While USD has not been able to make significant headway on the downside, we will maintain our view as long as 7.2330 (no change in 'strong resistance' level) is not breached."
Last updated
: 2025.05.15
Related articles
USD/CNH: Likely to trade in a range between 7.1700 and 7.1950 - UOB Group
2025.06.13 20:41Breaking: Gold Price Forecast: XAU/USD rises above $3,400 on rising Middle East tensions
2025.06.13 10:44USD/CNH has likely moved into a 7.1620/7.2200 range - UOB Group
2025.06.12 19:29USD/CNH: Expected to trade in a range of 7.1730/7.1970 - UOB Group
2025.06.11 18:57Dow Jones Industrial Average melt-up continues as markets await trade talk results
2025.06.11 02:12USD/CNH: Likely to trade in a range of 7.1700/7.1900 - UOB Group
2025.06.10 19:56
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
US Dollar Index (DXY) recovers on Israel-Iran hostilities
The US Dollar Index (DXY) is trading higher on Friday, with markets shifting focus on Israel's war against Iran.
New
2025.06.13 22:16EU gas storage: half full or half empty? - Commerzbank
The mood on the European gas market remains nervous: the next futures contract for the reference price TTF is now trading 5% higher than Tuesday's low, Commerzbank's commodity analyst Barbara Lambrecht notes.
New
2025.06.13 20:59EUR fades a portion of this week's gains on sentiment and softer data - Scotiabank
The Euro (EUR) is weak, down 0.6% and fully retracing Thursday's ECB (and US PPI)-driven rally, fading back to the psychologically important 1.15 level.
New
2025.06.13 20:56Forecast revision also for Silver, Platinum and Palladium - Commerzbank
In addition to Gold, we have also revised upwards our forecasts for Silver, Platinum and Palladium, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.06.13 20:53Gold Price Forecast: XAU/USD resumes its uptrend with $3,440 on focus
Gold (XAU/USD) appreciates for the third consecutive day on Friday, and is on track for a weekly rally beyond 3%.
New
2025.06.13 20:52CAD soft vs. USD but performing well vs. peers - Scotiabank
The Canadian Dollar (CAD) is trading marginally lower vs. the US Dollar (USD) while performing well against most of the G10 currencies, its performance insulated by the Canadian dollar's relationship to oil prices, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.06.13 20:49Gold price benefits from moderate US price data - Commerzbank
The Gold price rose to $3,445 per troy ounce overnight in response to Israel's attacks on Iran, the highest level since the record high almost two months ago, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.06.13 20:47USD strengthens on geopolitical risks as oil offers CAD support - Scotiabank
The US Dollar (USD) is strengthening broadly on the back of geopolitical tensions as market participants respond to news of Israeli airstrikes launched against Iran, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.06.13 20:45USD/CNH: Likely to trade in a range between 7.1700 and 7.1950 - UOB Group
US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1950. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.13 20:41US Oil production has apparently passed its peak - Commerzbank
In its latest monthly report, the US Energy Information Administration (EIA) has revised its forecast for US Oil production downwards, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.06.13 20:39Disclaimer:
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
