USD\/CNH traded quietly, oscillating between 6.7457 and 6.7518 before ending flat at 6.7483. With momentum indicators showing little direction, the pair is viewed as consolidating in a tight intraday band, most likely between 6.7450 and 6.7550, after recent action failed to push below 6.7420 or challenge resistance at 6.7550.<\/p>\n
Over a 1\u20133 week horizon, the bias remains for the Dollar to drift lower, with 6.7300 still the downside level in focus provided 6.7640 is not breached.<\/p>\n
In the longer 1\u20133 month view, a sustained recovery is framed as requiring a break above the 21-week EMA at 6.8430.<\/p>\n\n\n\n