US Greenback (USD) is anticipated to commerce in a variety, probably between 144.80 and 145.80. Within the longer run, there was a tentative buildup in momentum; for a sustained advance, USD should first break and maintain above 145.50, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
Tentative buildup in momentum
24-HOUR VIEW: “We anticipated USD to ‘commerce in a variety between 144.40 and 145.50’ yesterday. Though USD rose above 145.50 and reached 145.76, it pulled again sharply from the excessive. The worth actions didn’t result in any enhance in upward momentum, and at this time, we proceed to count on USD to commerce in a variety, probably between 144.80 and 145.80.”
1-3 WEEKS VIEW: “Yesterday, 19 Jun (spot at 144.85), we said that ‘there was a tentative buildup in momentum, however USD should first break and maintain above 145.50 earlier than a sustained advance might be anticipated.’ We additionally indicated that ‘the chance of USD breaking clearly above 145.50 will stay intact so long as the ‘sturdy assist’ degree, now at 143.85, holds.’ USD subsequently rose to a excessive of 145.76 earlier than closing at 145.45, and we proceed to carry the identical view for now.”
