Ella 
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Yesterday, we expected USD/CNH to trade sideways between 7.2800-7.3050. The exchange rate subsequently traded in a wider than expected trading range (7.2800/7.3105). This still appears to be “consolidating” and today, we expect the pair to trade between 7.2750 and 7.3040.
Next 1-3 weeks: Our latest view comes from last Thursday (August 24th, spot at 7.2840), when we emphasized that “recent upward momentum has weakened and the exchange rate may temporarily trade in the 7.2500/7.3300 range cast.
