• USD/CNY edged higher on Thursday as investors monitored developments in U.S.-China trade war.
• On Wednesday, the White House showed willingness to reduce China tariffs, and President Trump softened his stance on Fed Chair Powell.
• Optimism faded after Treasury Secretary Scott Bessent clarified that tariff reductions wouldn't happen unilaterally.
• In response, China stated that the U.S. should remove all unilateral tariffs to genuinely resolve the trade issue.
• At GMT 16: 00, the dollar up 0.03% to 7.287 against the Chinese Yuan.
• Immediate resistance is located at 7. 318 (38.2%fib), any close above will push the pair towards 7. 344(Higher BB)
• Support is seen at 7.283 (38.2%fib) and break below could take the pair towards 7.255 (61.8%fib).
Recommendation: Good to buy around 7.270, with stop loss of 7.210 and target price of 7.320
