FxWirePro: Chinese yuan trades flat despite lower than expected manufacturing PMI data

• USD/CNY is currently trading around 6.9671 marks.
   
• It made intraday high at 6.9678 and low at 6.9627 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 6.9662 marks will test key resistances at 6.9768, 6.9850, 6.9929 and 6.9980 marks respectively.
   
• Alternatively, a daily close below 6.9662 will drag the parity down towards key supports at 6.9396, 6.9210, 6.8898, 6.8670, 6.8420 and 6.8215 marks respectively.
   
• 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 6.9646 / dlr vs last close 6.9675.
   
• China Oct 2018 NBS non - manufacturing PMI decrease to 53.9 vs previous 54.9.
   
• China Oct 2018 NBS manufacturing PMI decrease to 50.2 (forecast 50.6) vs previous 50.8.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.