FxWirePro: Chinese yuan falls gradually against U.S. dollar, PBOC sets yuan mid-point at 6.7953

• USD/CNY is currently trading around 6.8044 marks.
   
• It made intraday high at 6.8048 and low at 6.7951 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.7915 marks.
   
• A sustained close above 6.8015 marks will test key resistances at 6.8099, 6.8250, 6.8440, 6.8526, 6.8671, 6.8882, 6.8942, 6.9010 marks 6.9080 marks respectively.
   
• Alternatively, a daily close below 6.8015 will drag the parity down towards key supports at 6.7915, 6.7757, 6.7607, 6.7520, 6.7436 and 6.7222 marks respectively.
   
• PBOC sets yuan mid-point at 6.7953/ dlr vs last close 6.8032.

We prefer to take long position in USD/CNY around 6.8010, stop loss at 6.7915 and target of 6.8352.

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