FxWirePro: USD/CNY back above 6.64 mark, PBOC sets yuan mid-point at 6.6451
USD/CNY is currently trading around 6.6432 marks. It made intraday high at 6.6490 and low at 6.6403 levels. Intraday bias remains bullish till the time pair holds immediate support at 6.6268 marks. On the top side, a sus…
It made intraday high at 6.6490 and low at 6.6403 levels.
Intraday bias remains bullish till the time pair holds immediate support at 6.6268 marks.
On the top side, a sustained close above 6.6510 mark will test key resistances at 6.6876, 6.7017, 6.7583 and 6.8158 marks respectively.
Alternatively, a daily close below 6.6268 will drag the parity down towards key supports at 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
PBOC sets Yuan mid-point at 6.6451/ dollar vs last close 6.6423.
We prefer to take long position in USD/CNY around 6.6410, stop loss 6.6268 and target 6.6558/6.6700.
