USD/CNH: Downside momentum appears over – UOB – by pabspiovano China Currencies Crosses Banks
Key Quotes
Next 1-3 weeks: “Last Thursday , we highlighted that the rapid build-up in downward momentum suggests USD could weaken further to 6.7100. Since then, USD has not been able to make much headway on the downside. Shorter-term downward has waned and the chance for USD to weaken to 6.7100 has diminished. That said, only a break of 6.7650 would indicate that USD is unlikely to weaken further.”
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