USD/CNH eyes breakout as 7.37 resistance looms – Société Générale

USD/CNH has rebounded after defending the 200-DMA at 7.22. Daily MACD has entered positive territory highlighting regain of upward momentum, Société Générale's FX analysts note.

USD/CNH approaches crucial 7.37 barrier

"It is now approaching the upper limit of the range since 2022 at 7.37; this is a crucial resistance. If USD/CNH establishes beyond 7.37, a larger uptrend could take shape. Next projections could be located at 7.41 and 7.46/7.47. First support is at 7.3050, the 38.2% retracement from March."

Apr 8, 2025

United States NFIB Business Optimism Index came in at 97.4, below expectations (101.3) in March

NZD/USD: Likely to trade in a 0.5500/0.5600 range – UOB Group

New Zealand Dollar (NZD) is likely to trade in a 0.5500/0.5600 range vs US Dollar (USD). In the longer run, it is too early to expect the weakness to stabilise, but it remains to be seen if NZD can decline to the next support at 0.5450, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.