FxWirePro: Chinese yuan remains almost unchanged after CPI, PPI data

• USD/CNY is currently trading around 6.9218 marks.
   
• It made intraday high at 6.9224 and low at 6.9130 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 6.9289 marks will test key resistances at 6.9347, 6.9525, 6.9620 and 6.9850 marks respectively.
   
• Alternatively, a daily close below 6.8898 will drag the parity down towards key supports at 6.8670, 6.8420, 6.8215, 6.7980, 6.7864, 6.7624, 6.7510 and 6.7160 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 6.9119 / dlr vs last close 6.9185.
   
• China Sep 2018 CPI yy increase to 2.5 % (forecast 2.5 %) vs previous 2.3 %.
   
• China Sep 2018 CPI mm stays flat at 0.7 % (forecast 0.7 %) vs previous 0.7 %.
   
• China Sep 2018 ppi yy decrease to 3.6 % (forecast 3.5 %) vs previous 4.1 %.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.