• USD/CNY is currently trading around 6.8822 marks.
   
• It made intraday high at 6.8864 and low at 6.8801 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 6.8889 mark.
   
• A sustained close above 6.8864 marks will test key resistances at 6.8922, 6.9037, 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.8864 will drag the parity down towards key supports at 6.8683, 6.8526, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
   
• PBOC sets Yuan mid-point at 6.8740/dollar vs last close 6.8873.

We prefer to take short position in USD/CNY around 6.8850, stop loss 6.8993 and target of 6.8526.