UOB predicts that USDCNH will experience further consolidation in the near future, with levels around 7.18480 being particularly important.

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USDCNH Chart by TradingView

USD/CNH is seen trading within the 7.1300-7.2450 range in the next few weeks, argue Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.

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