USD/CNH further downside on the cards – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to the research team at UOB Group, the pair could test lower levels in the next weeks.

    Key Quotes

    “After trading mostly sideways since middle of last month, there are warning signs that the downside pressure is increasing”.

    “That said, only a clear break below 6.5900 would indicate that the start of a bearish phase in USD”.

    “Overall, unless this pair can reclaim 6.6300 in the coming days, the downside risk will continue to increase”.
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