The USD/CNH currency pair has entered a consolidation phase, oscillating between an exchange rate of 7.0900 and 7.1070. UOB Group's FX analysts, Quek Ser Leang and Peter Chia, indicate that this range reflects a broader bearish outlook for the US Dollar. Traders are closely monitoring the next critical support level at 7.0885, which could signal further negative momentum if breached.
The ongoing weakness of the USD is attributed to various economic factors, including shifting market sentiment and potential policy adjustments. As the market navigates these fluctuations, the stability of the USD/CNH exchange rate will be pivotal for traders looking to capitalize on movements within this pair. Eyes remain peeled on developments that could influence the USD’s trajectory in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-11-17 13:31
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.