US Greenback (USD) is anticipated to commerce in a 7.1750/7.1950 vary. Within the longer run, USD has doubtless moved right into a 7.1620/7.2200 vary buying and selling part, UOB Group’s FX analysts Quek Ser Leang and Peter Chia observe.
USD has doubtless moved into a spread buying and selling part
24-HOUR VIEW: “We famous ‘a slight enhance in downward momentum’ final Friday, and we anticipated USD to ‘commerce in a decrease vary of seven.1750/7.1930.’ USD then traded between 7.1745 and seven.1876, closing largely unchanged at 7.1806 (-0.08%). USD opened on a robust observe at this time, however there was no important enhance in upward momentum. In the present day, we proceed to anticipate USD to commerce in a 7.1750/7.1950 vary.”
1-3 WEEKS VIEW: “Our newest narrative was from 09 Jun, when USD was at 7.1870. We indicated that point that USD ‘has doubtless moved again into a spread buying and selling part, in all probability between 7.1620 and seven.2200.’ Since then, USD has traded largely sideways, and our narrative stays unchanged.”
