USD/CNH expected to trade within a range bound theme – UOB By pabspiovano China Currencies Crosses Banks
24-hour view: “We expected USD to ‘trade sideways between 6.3790 and 6.3950’ yesterday. However, USD dropped to 6.3715 before closing on a soft note at 6.3736. While downward momentum has not improved by much, the decline in USD could extend to 6.3660 first before stabilizing. Resistance is at 6.3830 followed by 6.3900.”
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