USD/CNH Might Continue Weakness as Major Support Remains Elusive
The US Dollar (USD) may continue to weaken against the Chinese Yuan (CNH), with major support at the 7.1700 level likely to remain out of reach for now. Analysts from UOB Group, Quek Ser Leang and Peter Chia, indicate that while short-term fluctuations may occur, the longer-term trend shows renewed downward momentum. This outlook suggests that the 7.1700 level will soon be back in focus for traders who monitor this critical exchange relationship. As global dynamics evolve, market participants are strategizing how to navigate potential shifts in this pairing.