FxWirePro: USD/CNY breaks key resistance at 6.5510, next target 6.5708 in focus

• USD/CNY is currently trading around 6.5583 marks.
   
• It made intraday high at 6.5603 and low at 6.5509 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.5510 levels.
   
• A sustained close above 6.56 marks will test key resistance at 6.5708(50D EMA), 6.5790 levels respectively.
   
• Alternatively, a daily close below 6.5475 will drag the parity down towards key supports at 6.5369, 6.5758, 6.4910, 6.4721, 6.4531 levels.
   
• In addition, 20D EMA has crossed over 30D and 55D EMA, which confirms bullish trend.
   
• PBOC sets Yuan mid-point at 5 year low to 6.5693 / dlr vs last close 6.5590.

We prefer to take long position in USD/CNY only above 6.5525, stop loss 6.5406 and target 6.5708 levels.