UOB expects the Chinese yuan to consolidate against the dollar with a bullish tilt, targeting a 6.7635-6.7755 range in the near term.
UOB analysts Quek Ser Leang and Lee Sue Ann project USD/CNH to trade within a 6.7635 to 6.7755 range over the next 24 hours. The forecast follows recent downward pressure on the dollar against the yuan, suggesting a consolidation phase with a bullish bias.
The analysts noted that the yuan’s recent moves prompted the near-term outlook, though no specific prior prints or consensus estimates were provided. The range reflects a pause in volatility after the dollar’s recent decline.
No immediate market reaction was detailed in the analysis, focusing instead on the technical outlook for the currency pair.