UOB Group’s FX strategists Quek Ser Leang and Peter Chia expect USD/CNH to remain rangebound in the near term, with the pair holding within a slightly firmer band.
24-hour view
Analysts noted that momentum indicators remain largely flat, though the underlying tone has strengthened modestly. As a result, USD/CNH is now likely to trade in a slightly higher consolidation range of 7.1260–7.1410, compared with the 7.1200–7.1380 band anticipated earlier.
1–3 weeks view
On a broader horizon, UOB continues to see price action as part of a sideways phase, with the pair expected to stay contained between 7.1000 and 7.1480 for the time being.
