USD/CNH is seen maintaining the consolidative mood in the short-term horizon, comment UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Stra
tegist Peter Chia. Key Quotes 24-hour view:We noted yesterday that “momentum indicators are mostly neutral,” and we expected USD to trade sideways between 7.3080 and 7.3310. However, USD traded in a lower range than expected .
There is no clear directional bias, and we continue to expect USD to trade sideways, likely between 7.2980 and 7.3220. Next 1-3 weeks:Our update from Tuesday still stands. As highlighted, USD is likely to trade in a range for now, probably between 7.2800 and 7.3600.
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