- USD/CNY is currently trading around 6.4451 marks.
- It made intraday high at 6.4829 and low at 6.4446 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 6.5285 mark.
- A sustained close above 6.4829 marks will test key resistances at 6.5010, 6.5285, 6.5566, 6.5887, 6.6013, 6.6227, 6.6673, 6.6735, 6.6814, 6.7055, 6.7206, 6.7289 and 6.7373 marks respectively.
- Alternatively, a daily close below 6.4829 will drag the parity down towards key supports at 6.4429, 6.4323, 6.4119 and 6.4060 marks respectively.
- PBOC sets yuan mid-point at 6.5032/ dlr vs last close 6.4850.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- China August exports y/y decrease to 5.5 % (forecast 6.0 %) vs previous 7.2 %.
- China August imports y/y increase to 13.3 % (forecast 10.0 %) vs previous 11 %.
- China August trade balance USD decrease to 41.99 bln usd (forecast 48.60 bln usd) vs previous 46.73 bln usd (revised from 46.74 bln usd).
We prefer to take short position in USD/CNY around 6.4550, stop loss at 6.4850 and target of 6.4119.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations
FxWirePro- Major Crypto levels and bias summary
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
EUR/JPY Bearish Outlook Persists: Ifo Weakness Caps Upside, Sell Rallies Targeting 180 Below 183 Resistance
FxWirePro-Major European Indices
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
FxWirePro: EUR/NZD edges lower but bullish outlook persists
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout 



