USD/CNH Expected to Trade in a Narrow Range of 7.1900 to 7.2300
Analysts from UOB Group project that the USD/CNH pair is likely to trade within a range of 7.1900 to 7.2300. While the outlook remains mixed, market conditions suggest the US Dollar might maintain its position against the Chinese Yuan in the short run. Over the following days, the USD is expected to exhibit a range-bound movement before potentially resuming downward pressure. Investors are advised to monitor the critical 7.1700 level, as breaking this threshold could signal a shift in the trend. The insights from UOB analysts are instrumental for traders looking to strategize around this pivotal currency pair.