- Pair is currently trading at 6.5170 levels.
- It made intraday high at 6.5265 and low at 6.5175 levels.
- China's CPI rose 1.8% year-on-year in January, coming in slightly weaker than the 1.9% increase forecast by markets, but accelerating from 1.6% in December.
- The Producer Price Index fell 5.3% year-on-year last month, after sliding 5.9% in each of the five months prior to January. Deep producer price deflation endured due to weaker industrial input prices.
- Intraday bias remains neutral for the day.
- A daily close above 6.5710 is required to confirm the bullish bias.
- Alternatively, a break of 6.4910 is required to take the parity towards key support at 6.4718 marks.
- Key support levels are seen at 6.4910, 6.4878 and 6.4718.
- On the top side resistance levels are seen at 6.5710 and 6.6042 thereafter.