USD/CNH Faces Stalled Momentum as Traders Eye Key Range
The recent brief decline has not established notable downward momentum. Experts predict that the US Dollar (USD) is likely to trade within a range of 7.2550 to 7.2750 against the Chinese Yuan (CNH). Over the long term, the upward momentum appears to have slowed significantly. A drop below 7.2500 would signal that the USD has entered a phase of range trading, according to UOB Group’s FX analysts Quek Ser Leang and Peter Chia. This situation indicates a cautious outlook for traders, as the USD may lack clear direction in the near future.