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USD/CNH bearish near-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, the pair remains poised for further downside.

    Key Quotes

    “Despite the patchy momentum, USD managed to move below the immediate target at 6.5140 to touch a low of 6.4991 last Friday”.

    “While further weakness is not ruled out, the very strong support zone at 6.4900/50 will be difficult to break and those who are short should consider taking partial profit on any move towards these levels”.

    “Stop-loss is adjusted lower to 6.5700 from 6.5850”.
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