CNH Edges Toward Key Support at 6.7300

According to UOB's Quek Ser Leang, the Chinese Yuan (CNH) is expected to strengthen against the US Dollar (USD). The USD/CNH pair is currently trading within a developing range between 6.7500 and 6.7620.

In a short-term view, the pair could continue to edge lower toward 6.7300 as long as 6.7640 holds as strong resistance.

On a medium-term horizon, a sustained recovery requires a break above the 21-week Exponential Moving Average (EMA) near 6.8430. This would indicate a potential change in trend and a shift away from the current range-trading phase.