Each further reflection is probably part of a higher range of 143.30/144.30 instead of lasting progress. In longer launch, the price action suggests that USD is still trading within range, most likely between 142.10 and 145.50, FX Group Analysts Quek Serandg and Peter Chia Note.
The price action suggests that USD is still in the range
24-hour view: “USD dropped rapidly to 142.52 two days ago. Yesterday, when USD was 142.75, we noticed that” a piercing and quick sale seems to be excessively expanded. ” However, we pointed out that USD “may decrease more, but taking into account the deeply sold out rush, a clear break below 142.10 seems unlikely.” Our view turned out to be incorrect, because after a decline to 142.36, it definitely approached 0.92% to 144.00, this time the sharp reflection seems excessive, and all further reflection is probably part of a higher range of 143.30/144.30 instead of the maintenance. ”
1-3 weeks view: “Last Friday (May 30, place at 143.95), we indicated that” perspectives to USD is unclear and can trade in a wide range last week, between 142.10 and 146.30 “. Then it fell, and yesterday (03 June, point 142.75), we emphasized: “Increase of momentum is not enough to indicate that a constant decrease must break. Then it definitely affected, exceeding our level of” strong resistance “at the level of 143.85 (the highest level 144.10).
