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USD/CNH consolidative near-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - In view of the research team at UOB Group, USD/CNH could extend the sideline pattern in the short-term, with risks tilted to the downside.

    Key Quotes

    “After struggling and failing to move above the strong 6.6200 resistance, the risk from here is tilted to the downside”.

    “That said, the current movement is still viewed as part of a broad consolidation phase and any down-move is not expected to move significantly below the 6.5700 support”.
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