USD/CNH May Rise Further, Analysts Predict
Recent positive divergence signals indicate that the USD may rebound against the Chinese Yuan (CNH), projecting a potential rise to 7.2400. Despite this optimistic outlook, a significant resistance level at 7.2800 may hold firm. Analysts from UOB Group note that while the USD could range-trade in the short term, watching for movements around the 7.1700 level will also be crucial.
Understanding these predictions can help investors strategize their positions in the ever-evolving currency market. As the USD/CNH pair continues to develop, staying informed on market analytics will be vital for traders seeking to navigate the complexities of Forex trading.