FxWirePro: Chinese yuan falls in early Asia despite robust house prices data

• USD/CNY is currently trading around 6.7612 marks.
   
• It made intraday high at 6.7787 and low at 6.7595 levels.
   
• Intraday bias remains slightly bullish for the moment.
   
• A sustained close above 6.7590 marks will test key resistances at 6.7787, 6.7899, 6.8210, 6.8525 and 6.8886 marks respectively.
   
• Alternatively, a daily close below 6.7590 will drag the parity down towards key supports at 6.7346, 6.7250, 6.7050 and 6.6722 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• PBOC sets yuan mid-point at 6.7615 / dlr vs last close 6.7610.
   
• China Dec 2018 house prices yy increase to 9.7 % vs previous 9.3 %.

We prefer to take short position on USD/CNY only below 6.7590, stop loss at 6.7800 and target of 6.7050.