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FxWirePro: EUR/AUD loses upside momentum but outlook is bullish 
Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling 
- USD/CNY is currently trading around 6.9484 marks.
- It made intraday high at 6.9485 and low at 6.9429 levels.
- Intraday bias remains neutral till the time pair holds key support at 6.9343 mark.
- A sustained close above 6.9505 marks will test key resistances at 6.9633, 6.9778 and 6.9883 marks respectively.
- On the other side, a daily close below 6.9343 will drag the parity down towards key supports at 6.9204, 6.9127, 6.9026, 6.9189, 6.8983, 6.8770, 6.8510, 6.8449, 6.8090, 6.7969, 6.7769, 6.7540, 6.7439, 6.7370, 6.7288, 6.7180 and 6.7055.
- 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 6.9459/ dollar vs last close 6.9488.
We prefer to go long on USD/CNY only above 6.9505, stop loss at 6.9343 and target of 6.9633/6.9778.
