• USD/CNY declined on Tuesday as Beijing's surprise shift in its monetary policy stance toward more easing bolstered Chinese yuan
• China's Politburo announced on Monday plans for an "appropriately loose" monetary policy next year, the first easing in 14 years.
• The market interpreted the announcement as a signal that China's leaders are more focused on tackling ongoing economic challenges and mitigating the impact of potential U.S. tariffs.
• At GMT 15:27,the dollar was down 0.13% at 7.250 against Chinese Yuan.
• Immediate resistance is located at 7.262 (Daily high), any close above will push the pair towards 7.280(Higher BB).
• Support is seen at 7.242 (38.2%fib) and break below could take the pair towards 7.218 (Lower BB).
Recommendation: Good to sell around 7.260 with stop loss of 7.360 and target price of 7.200
