Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Chinese yaun weakens past 6.82 mark, PBOC sets yuan mid-point at 6.7891

  • USD/CNY is currently trading around 6.8224 marks.
     
  • It made intraday high at 6.8245 and low at 6.8074 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 6.7658 mark.
     
  • A sustained close above 6.7926 marks will test key resistances at 6.8324, 6.8548 and 6.8705 marks respectively.
     
  • Alternatively, a daily close below 6.7926 will drag the parity down towards key supports at 6.7658, 6.7373, 6.7160, 6.7005, 6.6715, 6.6518 and 6.6340 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 6.7891 / dlr vs last close 6.7855.
     
  • China sets yuan mid-point at weakest since July 11, 2017.

We prefer to take long position on USD/CNY around 6.8050, stop loss 6.7658 and target of 6.8548.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.