The selling bias for USDCNH at a rate of 7.15449 has been reduced after surpassing 7.2000, according to UOB.

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USDCNH Chart by TradingView

UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang argue that USD/CNH could see its downside momentum mitigated once it breaks above the 7.2000 level.

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