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FxWirePro- Woodies Pivot(Major) 
FxWirePro- Woodies Pivot(Major) 
- USD/CNY is currently trading around 6.3971 marks.
- It made intraday high at 6.3974 and low at 6.3928 levels.
- Intraday bias remains bullish till the time pair holds key support at 6.3837 marks.
- A sustained close above 6.3959 marks will test key resistances at 6.4110, 6.4175, 6.4278, 6.4329, 6.4525 and 6.4730 marks respectively.
- Alternatively, a daily close below 6.3959 will drag the parity down towards key supports at 6.3837, 6.3750, 6.3654, 6.3510, 6.3313 and 6.3210 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 6.3962 / dlr vs last close 6.4007.
- China May industrial output yy decrease to 6.8 % (forecast 6.9 %) vs previous 7 %.
- China May retail sales yy decrease to 8.5 % (forecast 9.6 %) vs previous 9.4 %.
- China May urban investment (ytd)yy decrease to 6.1 % (forecast 7 %) vs previous 7 %.
We prefer to take long position on USD/CNY around 6.3920, stop loss 6.3837 and target of 6.4110/6.4228/6.4329.
