• USD/ CNY strengthened on Tuesday as stronger greenback and concerns that a weak Chinese economy weighed on Chinese Yuan .
• Recent data from China showed that manufacturing activity sank to a six-month low in August and growth in new home prices slowed in August.
• Meanwhile, the property sector has not yet shown a positive response to Beijing's series of stimulus measures and continues to weigh down the overall economy.
• At GMT 15:06,the dollar was up 0.06% at 7.120 against Chinese Yuan
• Immediate resistance is located at 7.126 (38.2%fib), any close above will push the pair towards 7.153 (50%fib).
• Support is seen at 7.087 (23.6%fib) and break below could take the pair towards 7.076 (Lower BB).
Recommendation: Good to buy around 7.110 with stop loss of 7.070 and target price of 7.140
