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FxWirePro- Major European Indices 
- USD/CNY is currently trading around 6.9382 marks.
- It made intraday high at 6.9538 and low at 6.9356 levels.
- Intraday bias remains bearish for the moment.
- A sustained close above 6.9533 marks will test key resistances at 6.9620, 6.9768, 6.9850, 6.9929 and 6.9980 marks respectively.
- Alternatively, a daily close below 6.9533 will drag the parity down towards key supports at 6.9396, 6.9210, 6.9120, 6.8894, 6.8670, 6.8420 and 6.8215 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 6.9353 / dlr vs last close 6.9540.
We prefer to take short position on USD/CNY around 6.9400, stop loss 6.9540 and target of 6.9210/6.9120.
