US Greenback (USD) may edge increased, however any advance is probably going restricted to a take a look at of seven.2070. Within the longer run, USD has possible moved right into a 7.1620/7.2200 vary buying and selling part, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
USD has possible moved again into a variety buying and selling part
24-HOUR VIEW: “Yesterday, we anticipated USD to ‘commerce in a variety of seven.1730/7.1970.’ USD then traded in the next vary of seven.1811/7.2003. The slight improve in upward momentum suggests USD may edge increased right now. Nonetheless, any advance is probably going restricted to a take a look at of seven.2070. The main resistance at 7.2200 just isn’t anticipated to come into sight. On the draw back, assist ranges are at 7.1880 and seven.1800.”
1-3 WEEKS VIEW: “There may be not a lot so as to add to our replace from Monday (09 Jun, spot at 7.1870). As highlighted, the current ‘delicate downward momentum has eased, and USD has possible moved again into a variety buying and selling part, in all probability between 7.1620 and seven.2200’.”
