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FxWirePro: USD/CNY gains some ground but bearish outlook persists 
- USD/CNY is currently trading around 6.7013 marks.
- It made intraday high at 6.7040 and low at 6.6684 levels.
- Intraday bias remains bullish till the time pair holds key support at 6.68 marks.
- On the top side, a sustained close above 6.70 mark will test key resistances at 6.7583 and 6.8158 marks respectively.
- Alternatively, a daily close below 6.6853 will drag the parity down towards key supports at 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 6.7008/ dollar vs last close 6.6745.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/CNY around 6.6920, stop loss 6.68 and target 6.7583.
