• USD/CNY is currently trading around 7.0760 marks.
   
• It made intraday high at 7.0777 and low at 7.0650 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 7.0774 mark.
   
• A sustained close above 7.0774 marks will test key resistances at 7.0850, 7.0905, 7.0982 and 7.1022 marks respectively.
   
• Alternatively, a daily close below 7.0650 will drag the parity down towards key supports at 7.0525, 7.0449, 7.0319, 7.0285, 7.01, 7.0076, 6.9857 and 6.9510 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• China’s GDP y/y stands at -6.8 pct vs 6.0 pct previous release (expected -6.2).
   
• China’s retail sales data stands at -15.8 pct vs -20.5 pct previous release.
   
• China’s unemployment rate stands at 5.9 pct vs 6.2 pct previous release.
   
• China’s industrial production stands at -1.1 pct vs -13.5 pct previous release (expected -7.0).
  
  We prefer to take long position in USD/CNY around 7.0700, stop loss at 7.0600 and target of 7.1022.