US Dollar<\/a> (USD) is likely to trade in a range between 7.2500 and 7.2780 vs the Chinese Yuan (CNH). In the longer run, increase in momentum suggests USD could decline to the major support at 7.2300, UOB Group\u2019s FX analysts Quek Ser Leang and Peter Chia note.<\/p>\nAbove 7.2960, USD\/CNH to stop targeting the downside<\/h2>\n
24-HOUR VIEW: “Yesterday, when USD was at 7.2600, we highlighted the followings: ‘As long as USD remains below 7.2800 (minor resistance is at 7.2710), it could dip below 7.2500 before stabilisation is likely. This time around, the major support at 7.2300 is unlikely to come into view.’ Our view was not wrong, as USD fell to 7.2428, rebounded to 7.2677 and then closed largely unchanged at 7.2648 (+0.09%). USD has likely entered a range trading phase. Today, we expect it to trade between 7.2500 and 7.2780.”<\/p>\n
1-3 WEEKS VIEW: “Our update from yesterday (17 Feb, spot at 7.2600) is still valid. As highlighted, ‘the increase in downward momentum suggests USD could decline the major support level at 7.2300.’ A breach of 7.2960 (no change in \u2018strong resistance\u2019 level) will invalidate our view.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
US Dollar (USD) is likely to trade in a range between 7.2500 and 7.2780 vs the Chinese Yuan (CNH). In the longer run, increase in momentum suggests USD could decline to the major support at 7.2300, UOB Group\u2019s FX analysts Quek Ser Leang and Peter Chia note. Above 7.2960, USD\/CNH to stop targeting the downside […]<\/p>\n","protected":false},"author":2,"featured_media":370588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,255,250,252,247,253,249,308,12288,449,256,254],"class_list":["post-370586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdcnh","tag-usdcny","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/370586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=370586"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/370586\/revisions"}],"predecessor-version":[{"id":370587,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/370586\/revisions\/370587"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/370588"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=370586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=370586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=370586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}