FxWirePro: Chinese yaun trades almost flat after mixed economic data sets, PBOC sets yuan mid-point at 6.6758

• USD/CNY is currently trading around 6.6887 marks.
   
• It made intraday high at 6.7041 and low at 6.6838 levels.
   
• Intraday bias remains neutral till the time pair holds eky resistance at 6.7050 mark.
   
• A sustained close above 6.6899 marks will test key resistances at 6.7050, 6.7167, 6.7310, 6.7444 and 6.7676 marks respectively.
   
• Alternatively, a daily close below 6.6899 will drag the parity down towards key supports at 6.6518, 6.6340, 6.6170, 6.5989, 6.5758, 6.5500, 6.5340 and 6.5008 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• PBOC sets yuan mid-point at 6.6758 / dlr vs last close 6.6993.
   
• China June urban investment (ytd) yy decrease to 6 % (forecast 6 %) vs previous 6.1 %.
   
• China June retail sales yy increase to 9 % (forecast 9 %) vs previous 8.5 %.
   
• China Q2 2018 GDP qq increase to 1.8 (forecast 1.6 ).
   
• China Q2 2018 GDP yy increase to 6.7 (forecast 6.7 ).

We prefer to take long position on USD/CNY only above 6.7050, stop loss 6.6518 and target of 6.7444.