FxWirePro: USD/CNY back above 6.88 mark, bias remains slightly bullish
USD/CNY is currently trading around 6.8823 marks. It made intraday high at 6.8829 and low at 6.8752 levels. Intraday bias remains slightly bullish for the moment. A sustained close above 6.8924 marks will test key resist…
It made intraday high at 6.8829 and low at 6.8752 levels.
Intraday bias remains slightly bullish for the moment.
A sustained close above 6.8924 marks will test key resistances at 6.90, 6.9150, 6.9297, 6.94, 6.9548 and 6.9750 marks respectively.
Alternatively, a daily close below 6.8649 will drag the parity down towards key supports at 6.8492, 6.8331, 6.8210, 6.80 and 6.7813 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/CNY around 6.8780, stop loss at 6.8649 and target of 6.8924/6.90/6.9150.
