The US Dollar (USD) is likely to continue trading within a narrow range against the Chinese Yuan (CNH), according to analysts Quek Ser Leang and Peter Chia from UOB Group. In the near term, USD/CNH is expected to fluctuate between 7.1300 and 7.1450, while the broader range for the coming weeks is seen between 7.1200 and 7.1550.
Short-Term Outlook (24-Hour View):
On Tuesday, the USD/CNH pair moved within a tight range of 7.1361 to 7.1495, closing marginally higher at 7.1403 (+0.04%). UOB analysts noted that the recent price action offers little directional insight, and they continue to expect the pair to trade sideways in the short term.
Today’s expected range: 7.1300 – 7.1450
Medium-Term Outlook (1–3 Weeks View):
UOB’s previous analysis from Friday (10 Oct, spot at 7.1370) maintained that the USD is likely to remain in a consolidation phase. The analysts reiterated their view that USD/CNH will stay range-bound between 7.1200 and 7.1550 over the next one to three weeks.
