- USD/CNY is currently trading around 6.2837 marks.
- It made intraday high at 6.2848 and low at 6.2797 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 6.2784 marks.
- A sustained close above 6.2807 marks will test key resistances at 6.2898, 6.3068, 6.3158, 6.3210, 6.3320, 6.3515, 6.3625, 6.3855 and 6.4017 marks respectively.
- Alternatively, a daily close below 6.2807 will drag the parity down towards key supports at 6.2784, 6.2728, 6.2584, 6.2419, 6.2322, 6.2196 and 6.1907 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- PBOC sets yuan mid-point at 6.2911 / dlr vs last close 6.2810.
- China March CPI y/y decrease to 2.1 % (forecast 2.6 %) vs previous 2.9 %.
- China March ppi y/y decrease to 3.1 % (forecast 3.2 %) vs previous 3.7 %.
- China Mar CPI m/m decrease to -1.1 % (forecast -0.5 %) vs previous 1.2 %.
We prefer to take long position on USD/CNY around 6.2820, stop loss 6.2728 and target of 6.3068/6.3158.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro- Major Crypto levels and bias summary
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/ZAR edges higher but bearish outlook persists
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 



