USD/CNH: A chance to break above 7.2950 – UOB Group

Jul 10, 2024 9:09 AM

View all comments（0）



The US Dollar (USD) is expected to trade in a range, probably between 7.2820 and 7.2950, or at least in a wider range between 7.2700 and 7.3100 for the time being, UOB Group FX strategists Quek Ser Leang and Peter Chia note.

USD eyes to break above 7.2950

24-HOUR VIEW: “USD continues to trade in a quiet manner yesterday, between 7.2869 and 7.2931. The traded range was narrower than our expected range of 7.2820/7.2950. The quiet price action provides no fresh clues. Today, we continue to expect USD to trade in a range between 7.2820 and 7.2950.”

1-3 WEEKS VIEW: “Last Thursday (04 Jul, spot at 7.3000), we highlighted that the recent buildup of upward momentum had largely dissipated. We were of the view that the current price movements are likely part of a consolidation, and we expected USD to trade between 7.2700 and 7.3100 or the time being. There is no change in our view.”

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