FxWirePro: China's yuan strengthens past 6.75 per U.S. dollar to 6.7460, PBOC sets yuan mid-point at 6.7909

• USD/CNY is currently trading around 6.7547 marks.
   
• It made intraday high at 6.7899 and low at 6.7460 levels.
   
• Intraday bias remains bearish for the moment.
   
• A sustained close above 6.7870 marks will test key resistances at 6.8886, 6.9075, 6.9210, 6.9396, 6.9525 and 6.9620 marks respectively.
   
• Alternatively, a daily close below 6.7870 will drag the parity down towards key supports at 6.7460, 6.7250, 6.7050 and 6.6722 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• PBOC sets yuan mid-point at 6.7909 / dlr vs last close 6.7890.

We prefer to take short position on USD/CNY around 6.77, stop loss at 6.80 and target of 6.7050.