Analysts expect the yuan to strengthen against the dollar in coming weeks if 6.7820 resistance holds.
United Overseas Bank analysts forecast a downside bias for USD/CNH below the 6.7820 resistance level. The pair is consolidating intraday between 6.7710 and 6.7820 after a period of quiet trading.
Over the next one to three weeks, the yuan is expected to trade toward 6.7600, provided the 6.7820 resistance remains intact. Recent trading has been subdued, with limited volatility in the currency pair.
No immediate market reaction was noted in the analysis, which focuses on short-term technical expectations.