The USD/CNH currency pair is facing downward pressure, with analysts from UOB Group indicating that the critical support level at 7.0885 is likely unattainable in the near term. Although further declines for the USD are possible, the focus remains on this key technical level, which could act as a significant barrier for traders looking to capitalize on potential downward trends.
In the longer term, the outlook for the USD remains negative, leaving market participants to monitor the 7.0885 level closely. As trading continues, fluctuations in the exchange rate could be influenced by broader economic factors, including U.S. economic data and shifts in market sentiment towards the dollar, highlighting the ongoing volatility in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 13:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.