USD/CNY is currently trading around 6.7251 marks. It made intraday high at 6.7281 and low at 6.7205 levels. Intraday bias remains neutral till the time pair holds key support at 6.7030 marks. On the top side, a sustained…
It made intraday high at 6.7281 and low at 6.7205 levels.
Intraday bias remains neutral till the time pair holds key support at 6.7030 marks.
On the top side, a sustained close above 6.7270 marks will test key resistances at 6.7583 and 6.8158 marks respectively.
Alternatively, a daily close below 6.7030 will drag the parity down towards key supports at 6.6820, 6.6605, 6.6560, 6.6425, 6.6281, 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
PBOC sets Yuan mid-point at 6.7157/ dollar vs last close 6.7256.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
China’s September CPI y/y increases to 1.9 % (forecast 1.6 %) vs previous 1.3 %.
China’s September PPI y/y increases to 0.1 % (forecast -0.3 %) vs previous -0.8 %.
China’s September PPI +0.5 pct from previous month.
China’s September CPI m/m increases to 0.7 % (forecast 0.3 %) vs previous 0.1 %.
China says September food CPI +3.2 pct from a year ago; non-food CPI +1.6 pct.
China's producer price y/y
growth in positive territory for first time January 2012.
We prefer to take long position in USD/CNY only above 6.7270, stop loss 6.7030 and target 6.7583.
