A more sustained decline in USD/CNH needs to break below the 7.2850 region, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser
Leang. Key Quotes 24-hour view:Yesterday, USD fell to a low of 7.3085. USD dropped further in early Asian trade today. The rapid increase in momentum is likely to cause further USD weakness towards 7.2950 . In order to maintain the momentum, USD must not break above 7.3200 .
Next 1-3 weeks:USD fell by 0.23% yesterday. Downward momentum is building, but USD has to break clearly below 7.2850 before a sustained decline is likely. The chance of USD breaking clearly below 7.2850 will remain intact as long as it stays below 7.3260 in the next few days.
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