There might be a pullback in the USDCNH currency pair at a rate of 7.28442, and it could result in a retest of the 7.2600 level, according to UOB.

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USDCNH Chart by TradingView

The continuation of the downward bias could drag USD/CNH to revisit the 7.2600 region in the next few weeks, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

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