From a short-term perspective, the VND exchange rate trend will be influenced by both bullish and bearish factors. Bullish factors include: sustained Vietnam trade surplus, adequate forex reserves, strong central bank intervention willingness, and stable foreign capital inflows. Bearish factors include: expectations of dollar strength, declining global risk appetite, and increased seasonal corporate forex demand.

Technical analysis shows that the VND/USD rate has gained some support near key support levels, but upside resistance should not be ignored. If the central bank continues to increase intervention intensity, the dong is expected to stabilize in the short term; conversely, if external pressure continues to increase, the dong may face further depreciation pressure.