FxWirePro: Chinese yaun trades flat, PBOC sets yuan mid-point at 6.3272 per U.S. dollar

• USD/CNY is currently trading around 6.3307 marks.
   
• It made intraday high at 6.3331 and low at 6.3306 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 6.3564 marks will test key resistances at 6.3625, 6.3855 and 6.4017 marks respectively.
   
• Alternatively, a daily close below 6.3092 will drag the parity down towards key supports at 6.3005, 6.2942, 6.2827, 6.2584, 6.2322, 6.2196 and 6.1907 marks respectively.
   
• PBOC sets yuan mid-point at 6.3272 / dlr.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest