USD/CNH: to trade between 7.2850 and 7.2950 – UOB Group

Jun 24, 2024 9:38 AM

View all comments（0）



The US Dollar (USD) is likely to trade in a sideways range of 7.2850/7.2950, but it’s also likely to rise above this range. Resistance levels to watch are at 7.3000 and 7.3100, UOB Group analysts say.

A breach below 7.2700 to turn the USD southwards

24-HOUR VIEW: “Our view for USD to continue to rise last Friday was incorrect, as it traded sideways between 7.2838 and 7.2920, closing largely unchanged (7.2915, -0.01%). There has been no increase in momentum, and USD could continue to trade sideways today, likely in a range of 7.2850/7.2950.”

1-3 WEEKS VIEW: “We have expected USD to strengthen since early last week (see annotations in the chart below). In our latest update from last Friday (21 Jun, spot at 7.2920), we indicated that ‘further USD strength is likely, and the resistance levels to watch are 7.3000 and 7.3100.’ There is no change in our view. On the downside, a breach of 7.2700 (no change in ‘strong support’ level from last Friday) would mean that USD is not strengthening further.”

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Nvidia Stock Price Forecast: Jensen Huang Personally Responds to Market Doubts, Can Nvidia Stock Price Still Rise in the Second Half of 2026?

TradingKey - As of July 16 Eastern Time, Nvidia (NVDA) shares closed at $207.4, down 2.4% for the day. Although Nvidia’s stock price has undergone a correction since June, it stabilized and rebounded in July, posting a cumulative monthly gain of 3.65%. This indicates that the market continues to support Nvidia's long-term AI growth logic.

Electric Vehicle Market Enters Trillion-Dollar Era, Is Tesla or Rivian More Worthy of Long-Term Investment?

TradingKey - The global new energy vehicle industry is still in a phase of rapid expansion. However, for investors, industry growth does not mean all electric vehicle companies will emerge as winners. Between these two representative EV companies, Tesla (TSLA) and Rivian (RIVN), which stock is better suited for long-term holding?

ASML Stock Price Forecast: What Is the 2026 Stock Price Trend? How High Will It Rise by 2030?

Driven by the AI wave and robust demand for HBM capacity expansion, ASML saw its share price surge in the first half of 2026, prompting Wall Street investment banks to collectively raise their price targets. While high valuations may lead to short-term fluctuations between $1,700 and $2,000, the stock is highly likely to stabilize above the $2,000 mark by year-end. In the long term, bolstered by its absolute monopoly in equipment, the share price is projected to surpass $3,000 by 2030.

AMD Stock Down 17% From Peak — Can July 22 Advancing AI Save It?

TradingKey - AMD ended the week at $486, down 17% from its June high. The trendline broke. RSI hit 29. But KeyBanc raised to $725, BofA to $620, and July 22 Advancing AI brings Zen 6 Venice and the MI455X roadmap. Here is the setup for the week ahead.

SpaceX IPO Makes History, But Breaks Below Offer Price a Month Later, What Should Investors Watch in the Coming Months?

TradingKey - On June 12, 2026, Eastern Time, SpaceX (SPCX) listed on the Nasdaq at $135 per share with a base fundraising size of approximately $75 billion, setting a new global IPO record.

Featured Tools