USD/CNH sticks to the mixed outlook – UOB

FX Strategists at UOB Group Quek Ser Leang and Lee Sue Ann keeps the neutral view on USD/CNH for the time being.

Key Quotes

24-hour view: “Our expectations for USD to ‘dip to 6.3550’ did not materialize as it traded between 6.3580 and 6.3683 before closing little changed at 6.3650 (+0.09%). Momentum indicators are mostly neutral and USD is likely to trade sideways, expected to be between 6.3580 and 6.3780.”

Next 1-3 weeks: “There is not much to add to our update from yesterday (07 Apr, spot at 6.3640). As highlighted, the outlook is mixed and USD could trade within a range of 6.3450/6.3850 for now.”