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January 7, 2025

USD/CNH Expected to Consolidate in 7.3210 to 7.3610 Range

Analysts at UOB Group predict that the US dollar (USD) will trade in a sideways range of 7.3210 to 7.3610 against the Chinese Yuan (CNH). This consolidation indicates market participants are assessing potential movements after various economic influences. In the longer term, there may be room for the USD to retest the 7.3700 level; however, analysts caution it is too early to determine if it can break and sustain above this threshold. Traders are urged to remain vigilant as the market navigates through fluctuating economic conditions which may impact the USD/CNH. Close monitoring of these ranges will provide insights into trading strategies for investors.

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