FxWirePro: Chinese yuan falls against U.S. dollar, PBOC sets yuan mid-point at 6.8782

• USD/CNY is currently trading around 6.8850 marks.
   
• It made intraday high at 6.8853 and low at 6.8683 levels.
   
• Intraday bias remains bullish for the moment.
   
• A sustained close above 6.8686 marks will test key resistances at 6.8915, 6.8963, 6.9073, 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.8686 will drag the parity down towards key supports at 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
   
• PBOC sets Yuan mid-point at 6.8782/dollar vs last close 6.8767.

We prefer to take long position in USD/CNY only above 6.89, stop loss 6.8634 and target of 6.9073.