to challenge the 6.8500 region in the short-term horizon, comment Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “We highlighted yesterday that ‘the increase is upward momentum is likely to lead to further USD strength but 6.8500 could be out of reach today’. Our view was not wrong as USD rose to 6.8444 before pulling back. The pullback amid overbought conditions suggests USD is unlikely to advance further.
Next 1-3 weeks: “There is not much to add to our update from yesterday . As highlighted, upward momentum is beginning to build and the likelihood of USD breaking above 6.8500 has increased. The next resistance level above 6.8500 remains at 6.8800. Overall, only a break of 6.7800 would indicate that 6.8500 is not coming into view.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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