UOB strategists Quek Ser Leang and Lee Sue Ann have provided a technical outlook for the USD/CNH currency pair, indicating that the exchange rate is largely unchanged but with a mild increase in downward momentum, according to FX Street. Intraday bias is tilted lower toward 6.6950, with resistance levels identified at 6.7055 and 6.7100. However, a decisive break below 6.6950 is considered unlikely in the short term.
Looking further ahead, the pair is expected to trade within a range of 6.6950 to 6.7270 over the next one to three weeks. Over a longer horizon of one to three months, UOB anticipates a gradual downside trend, provided that USD/CNH remains below the cloud resistance near 6.7815.
This outlook is particularly relevant for Japanese investors monitoring currency risks amid ongoing US-China trade dynamics and their impact on cross-border investments in FX and equities.