Analysts expect the Chinese yuan to hold between 6.7635 and 6.7755 against the USD in the short term while maintaining a bearish outlook.
United Overseas Bank analysts forecast USD/CNH consolidation between 6.7635 and 6.7755 over the next 24 hours, citing eased downward pressure. The pair closed at 6.7688 after dipping to 6.7635 earlier in the session.
The downside bias remains intact toward 6.7600 over the 1-3 week horizon, provided resistance at 6.7820 holds. Momentum has slowed but not reversed, with the pair still trading below key resistance levels.
No immediate market reaction was specified, though the outlook suggests potential yuan strength if support levels are breached.