USD is prone to commerce in a spread between 7.1770 and seven.1970. Within the longer run, USD has seemingly moved right into a 7.1620/7.2200 vary buying and selling part, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.
USD has seemingly moved into a spread buying and selling part
24-HOUR VIEW: “We anticipated USD to ‘commerce in a spread between 7.1700 and seven.1950’ final Friday. USD subsequently traded in a narrower vary than anticipated (7.1713/7.1900). The worth motion offers no contemporary clues, and we proceed to count on vary buying and selling immediately, almost definitely between 7.1770 and seven.1970.”
1-3 WEEKS VIEW: “In our most up-to-date narrative from final Monday (09 Jun, spot at 7.1870), we highlighted that the current ‘gentle downward momentum has eased, and USD has seemingly moved again into a spread buying and selling part, in all probability between 7.1620 and seven.2200.’ Since then, USD has traded inside the vary, and our view stays unchanged for now.”
