USD/CHN now looks to the bearish side – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In opinion of the research team at UOB Group, the pair’s outlook is now bearish although there should be well supported around 6.5140.

    Key Quotes

    “We just shifted to a bearish USD stance yesterday and there is no change to the view”.

    “As pointed out, the downward momentum is not very strong and at this stage, any further weakness is likely limited to 6.5140”.

    “Stop-loss is adjusted lower to 6.5850 from 6.5900”.
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