FxWirePro: China's yuan weakens past 6.90 per U.S. dollar for the first time since Dec 2018, PBOC sets yuan mid-point at 6.8859

• USD/CNY is currently trading around 6.9048 marks.
   
• It made intraday high at 6.9095 and low at 6.8827 levels.
   
• Intraday bias remains bullish for the moment.
   
• A sustained close above 6.8837 marks will test key resistances at 6.9120, 6.9248, 6.94 and 6.9648 marks respectively.
   
• Alternatively, a daily close below 6.8837 will drag the parity down towards key supports at 6.8628, 6.8525, 6.8210, 6.80 and 6.7813 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 6.8859/ dlr vs last close 6.8840.

We prefer to take long position on USD/CNY around 6.90, stop loss 6.8734 and target of 6.94.