UOB analysts expect the Dollar-Yuan pair to trade between 6.7700 and 6.8100 in the near term amid sideways movement.
The USD/CNH pair remains in a consolidation phase, with intraday price action confined to a narrow range. UOB analysts note the Dollar is expected to trade between 6.7700 and 6.8100 against the Chinese Yuan in the coming weeks, reflecting a broader sideways pattern.
Recent sessions saw the pair fluctuate within tighter bounds, closing at 6.7818 last Friday after dropping to 6.7766. Yesterday’s trading range of 6.7779 to 6.7895 was slightly narrower than UOB’s forecast of 6.7780 to 6.7920. Analysts maintain their short-term outlook, projecting today’s range at 6.7785 to 6.7915.
No immediate breakout is anticipated, as the pair continues to lack directional momentum. The defined boundaries suggest limited volatility in the near term.