USD/CNH: Likely to trade in a range of 7.1740/7.1880 – UOB Group

US Dollar (USD) is likely to trade in a range of 7.1740/7.1880. In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

USD is expected to trade in a range

24-HOUR VIEW: "We expected USD to 'trade in a range between 7.1700 and 7.1920' yesterday. USD then traded in a range of 7.1781/7.1897 before closing at 7.1850 (+0.06%). The price action provides no fresh clues, and today, we expect USD to trade in a range of 7.1740/7.1880."

1-3 WEEKS VIEW: "On Monday (14 Jul, spot at 7.1730), we highlighted that USD 'is expected to trade in a range between 7.1550 and 7.1920.' We continue to hold the same view for now."