Any further reflection is probably part of a higher range of 143.30/144.30 instead of permanent progress. In a longer period of time, the price event suggests that USD is still traded in the range, probably between 142.10 and 145.50, UOB Group Group Quek Ser Leang and Peter Chia Note.
The price action suggests that USD is still traded to extent
A 24 -hour look: “USD fell to 142,52 two days ago. However, we found that the USD “could further reduce, but due to deeply sold dynamics, a clear turning point below 142.10 seems unlikely.” Our view proved to be incorrect, because after a drop to $ 142.36, USD was strongly reflected by 0.92% higher to 144.00.
View 1-3 weeks: “Last Friday (May 30, on site 143,95) we indicated that“ view It is unclear for USD and could trade to a wide range of last week, between 142.10 and 146.30. “USD subsequently failed and yesterday (3 June, instead of 142,75), we emphasized the following:” Increasing dynamics down is not enough to avoid a permanent decline that would not break over the past few days. ” The USD then bounced heavily and broke over our “strong resistance” to 143.85 (maximum 144,10).
