USD/CNH: A break below 7.2600 to mean a decline to 7.2400 – UOB Group
The US Dollar (USD) is likely to trade in a range, probably between 7.2680 and 7.2880. Downward momentum is building again; USD must break and stay below 7.2600 before a decline to 7.2400 can be expected, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
Rangebound between 7.2680 and 7.2880
24-HOUR VIEW: “Yesterday, we held the view that ‘there is scope for USD to drop below 7.2600, but it might not be able to maintain a foothold below this level.’ USD subsequently dropped to 7.2611 and then rebounded to close largely unchanged (7.2787, +0.09%). Today, we expect USD to trade in a range, probably between 7.2680 and 7.2880.”
1-3 WEEKS VIEW: “Our update from yesterday (18 Jul, spot at 7.2680) is still valid. As highlighted, downward momentum is building, but USD must break and stay below 7.2600 before a decline to 7.2400 can be expected. The chance of USD breaking clearly below 7.2600 will remain intact provided that 7.2900 is not breached.”
Related Articles
U.S. GDP, PCE, and Fed Rate Decision Preview: U.S. Stocks May Continue to Rise
TradingKey - The United States is set to release its latest GDP and PCE data on 30–31 July 2025, with the Federal Reserve’s interest rate decision expected concurrently. Market consensus anticipates that the annualized real GDP growth rate for the second quarter will turn positive
What to Expect From Meta Q2 Earnings: AI Push, Ad Strength — But Can Profitability Hold?
TradingKey - Meta Platforms (META), the parent company of Facebook, Instagram, and WhatsApp, will release its Q2 2025 earnings after the U.S. market close on Wednesday, July 30. After nine consecutive quarters of beating expectations, analysts expect another strong performance — driven by AI-powered
Apple Q3 FY2025 Earnings Preview: Navigating Tariff Pressures, iPhone Resilience, and AI Integration
TradingKey - Apple Inc. (NASDAQ: AAPL) is set to report its Q3 FY2025 earnings on Thursday, July 31, 2025, after the U.S. market closes. The earnings call, featuring CEO Tim Cook and CFO Kevan Parekh, will commence at 2:00 p.m. Eastern Time, providing shareholders and analysts with updates on overal
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.
Apple FY2025 Q2 Earnings Preview: Can It Thrive in a Trade War Storm?
TradingKey - As Apple ready to release its Q2 FY2025 earnings, the tech giant stands at a crossroads, navigating a landscape shaped by robust fundamentals, escalating trade tensions, and intensifying competition. With its iconic brand and formidable cash flow, Apple remains a cornerstone of the...