USD/CNH: Still scope for a move to 7.1000 – UOB – by pabspiovano China Currencies Crosses Banks
could prolong the upside bias and test 7.1000 once it leaves behind 7.0500, comment FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “Yesterday, we expected USD to ‘trade within a range of 6.9800/7.0220’. However, USD edged to a high of 7.0325. Despite the advance, upward momentum has not improved by much. That said, USD could continue to edge higher but it is unlikely to challenge the major resistance at 7.0500. Last week’s high near 7.
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