Chinese yuan rises gradually against U.S. dollar, stay short
USD/CNY is currently trading around 6.9286 marks. It made intraday high at 6.9492 and low at 6.9274 levels. Intraday bias remains bearish till the time pair holds key resistance at 6.9540 mark. A sustained close above 6.…
By FxWirePro Team
Updated 1 min read
Image from the original EconoTimes article
USD/CNY is currently trading around 6.9286 marks.
It made intraday high at 6.9492 and low at 6.9274 levels.
Intraday bias remains bearish till the time pair holds key resistance at 6.9540 mark.
A sustained close above 6.93 marks will test key resistances at 6.9540, 6.97, 6.9867, 6.9957, 7.0168, 7.0388, 7.07 and 7.0920 marks respectively.
Alternatively, a daily close below 6.93 will drag the parity down towards key supports at 6.9210, 6.9013, 6.88 and 6.8662 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/CNY around 6.9300, stop loss at 6.95 and target of 6.9210/6.9013/6.88.
USD/CNY is currently trading around 6.8954 marks. It made intraday high at 6.8978 and low at 6.8835 levels. Intraday bias remains bullish till the time pair holds key support at 6.8835 mark. A sustained close above 6.883…
USD/CNY is currently trading around 6.8729 marks. It made intraday high at 6.8937 and low at 6.8658 levels. Intraday bias remains bearish for the moment. A sustained close above 6.8923 marks will test key resistances at …
The Chinese yuan is expected to advance moderately in the coming weeks, catching up with recent gains in regional peers such as the KRW and TWD, according to the latest research report from Scotiabank. The People’s Bank …
