Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
17 Feb 2025

USD/CNH can dip below 7.2500 before stabilisation is likely – UOB Group

As long as US Dollar (USD) remains below 7.2800 vs Chinese Yuan (CNH), it could dip below 7.2500 before stabilisation is likely. In the longer run, increase in momentum suggests USD could decline to the major support at 7.2300, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

USD has a chance to decline to the major support at 7.2300

24-HOUR VIEW: "USD plummeted to a low of 7.2685 last Thursday. On Friday, when USD was at 7.2785, we pointed out, 'provided that 7.2950 is not breached, there is a chance for USD to dip below the 7.2685 low before stabilisation is likely.' We added, 'the next support at 7.2500 is unlikely to come into view.' USD subsequently rose to 7.2904 and then, in a surprising move, plunged and almost reached 7.2500 (low of 7.2512). Unsurprisingly, the price action has resulted in a sharp and rapid increase in downward momentum. Today, as long as USD remains below 7.2800 (minor resistance is at 7.2710), it could dip below 7.2500 before stabilisation is likely. This time around, the major support at 7.2300 is unlikely to come into view."

1-3 WEEKS VIEW:  "Last Friday (14 Feb, spot at 7.2785), we highlighted that 'there has been an increase in momentum, but not enough to indicate the start of a sustained decline.' We also highlighted that, 'to continue to decline, USD must break and remain below 7.2500.' We added, 'the likelihood of USD breaking clearly below 7.2500 will increase in the next few days as long as 7.3070 is not breached.' USD subsequently dropped to a low of 7.2512. While the 7.2500 level has not been clearly breached yet, the increase in momentum suggests USD could decline to the next major support level, at 7.2300. On the upside, the ‘strong resistance’ level has moved lower to 7.2960 from 7.3070."

 

Feb 17, 2025

USD/JPY: Unlikely to reach the major support at 151.00 – UOB Group

US Dollar (USD) is likely to edge lower vs Japanese Yen (USD), but it is unlikely to reach the major support at 151.00.
Read more Previous
Feb 17, 2025

WTI trades cautiously above $70 as investors await Russia-Ukraine peace talks

West Texas Intermediate (WTI), futures on NYMEX, trades with caution above the seven-week low of $70.15 in Monday’s European session.
Read more Next