Analysts expect the yuan to edge lower against the dollar toward 6.7300, with resistance capped at 6.7640 in the near term.
The dollar-yuan pair remains confined to a narrow intraday range of 6.7450 to 6.7550, reflecting flat momentum and consolidation. UOB analysts note the underlying tone appears soft, though a sustained decline below 6.7420 remains unlikely for now.
Recent trading saw USD/CNH move between 6.7457 and 6.7518, closing unchanged at 6.7483. Over the next 1-3 weeks, the dollar is expected to edge lower toward 6.7300, provided resistance at 6.7640 holds. A break above the 21-week EMA at 6.8430 would be needed for a longer-term recovery.
No immediate market reaction was reported as the pair continues to trade within its established range.