USD/CNH remains side-lined between 6.4350-6.4880 – UOB

USD/CNH now looks to extend the consolidative mood within the 6.4350-6.4880 range in the next weeks, commented FX Strategists at UOB Group.

Key Quotes

24-hour view: “USD traded between 6.4593 and 6.4730 last Friday, narrower than our expected consolidation range of 6.4500/6.4730. The quiet price actions offer no fresh clues and further consolidation appears likely. Expected range for today, 6.4520/6.4700.”

Next 1-3 weeks: “There is not much to add to our update from last Friday (24 Sep, spot at 6.4610). As highlighted, USD is still in a consolidation phase and could trade between 6.4350 and 6.4880 for a period of time.”