USD/CNH: Likely to trade in a range between 7.1440 and 7.1630 – UOB Group
US Dollar (USD) is likely to trade in a range between 7.1440 and 7.1630 against Chinese Yuan (CNH). In the longer run, USD view is negative; it could drop to 7.1295, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USD view is negative
24-HOUR VIEW: "On Wednesday, USD fell and closed lower at 7.1514, down by 0.25%. Yesterday, when USD was at 7.1500, we stated that 'the risk for USD remains on the downside.' However, we indicated that 'the significant support level at 7.1295 is probably out of reach for now (there is another support level at 7.1400).' The subsequent price movements did not turn out as we expected. USD briefly dropped to a low of 7.1435 and then recovered to close largely unchanged at 7.1549 (+0.05%). The price movements are likely part of a range trading phase, probably between 7.1440 and 7.1630."
1-3 WEEKS VIEW: "After maintaining a neutral position on USD for more than a week, we revised our view to negative yesterday (24 Jul, spot at 7.1500). We indicated that USD 'could drop to 7.1295.' We will maintain our view provided that USD remains below the ‘strong resistance’ level of 7.1730."
Related Articles
ECB July Rate Decision Commentary: Euro Bulls Should Exercise Caution Amid Potential Mid-Term Reversal
TradingKey - On 24 July 2025, the European Central Bank (ECB) released its decision on policy interest rates, maintaining all three key rates as anticipated, with the deposit facility rate steady at 2%.
Cathie Wood’s ARK: The Ever-Volatile Bet on Innovation
Cathie Wood's ARK Investment Management is basically synonymous with high-conviction, high-volatility bets on disruptive innovation. It is not a run-of-the-mill mutual fund with safe bets in consumer staples or diversified blue chips, a deliberate swing at future-shaping businesses
Why Meme Stocks Are Heating Up Again?
TradingKey - The meme stock craze is back—and this time, it's spilling over into a broader range of beaten-down, highly speculative names.
Japan June Inflation Commentary: Impact on the Yen Exchange Rate
TradingKey - On 18 July 2025, Japan published its June inflation data, showing the headline Consumer Price Index (CPI) rising 3.3% year-on-year, a 0.2 percentage point drop from May’s figure.
What Is Stellar (XLM), and Why Did It Surge Over 110% in Just 7 Days?
Stellar isn’t just another altcoin — it’s a blueprint for a next-generation financial system. From remittances and stablecoin settlement to smart contracts and CBDC infrastructure, Stellar is redefining what “on-chain capital markets” can look like.
