USD/CNH is moving sideways near 6.77 after a subdued session, with price action framed as consolidation. The pair traded between 6.7649 and 6.7753 and ended at 6.7734, up 0.07%, and UOB expects the near-term range to sit between 6.7670 and 6.7780. Earlier moves saw it rise to 6.7781 before slipping to 6.7653, but that momentum failed to extend.
Short-Term Outlook and Resistance Levels
Over the next 1–3 weeks, UOB keeps a downside bias towards 6.7600, provided the 6.7820 resistance level holds. A minor resistance point is cited at 6.7720, while 6.7780 is presented as a level the pair needs to remain below to sustain downward momentum.
Longer-Term Technical View
For the 1–3 month horizon, the bank flags tentative upside potential should key technical resistance be broken.
