FxWirePro: Chinese yuan remains unchanged after mixed economic data

• USD/CNY is currently trading around 6.9330 marks.
   
• It made intraday high at 6.9415 and 1low at 6.9320 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 6.9366 marks will test key resistances at 6.9456, 6.9525, 6.9620 and 6.9850 marks respectively.
   
• Alternatively, a daily close below 6.9366 will drag the parity down towards key supports at 6.9210, 6.8898, 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 6.9387 / dlr vs last close 6.9387.
   
• China sets yuan mid-point at weakest level since Jan 4, 2017.
   
• China Sep 2018 retail sales yy increase to 9.2 % (forecast 9 %) vs previous 9 %.
   
• China Sep 2018 industrial output yy decrease to 5.8 % (forecast 6 %) vs previous 6.1 %.
   
• China Q3 2018 GDP qq sa decrease to 1.6 % (forecast 1.6 %) vs previous 1.8 %.

We prefer to take long position on USD/CNY only above 6.9420, stop loss at 6.92 and target of 6.9620.