FxWirePro: USD/CNY consolidates around 6.92 mark, PBOC sets yuan mid-point at 6.8940

• USD/CNY is currently trading around 6.9240 marks.
   
• It made intraday high at 6.9254 and low at 6.9202 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 6.9297 marks.
   
• A sustained close above 6.9297 marks will test key resistances at 6.94, 6.9525 and 6.9648 marks respectively.
   
• Alternatively, a daily close below 6.8979 will drag the parity down towards key supports at 6.8628, 6.8525, 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.
   
• PBOC sets yuan mid-point at 6.8940/ dlr vs last close 6.9258.

We prefer to take long position on USD/CNY only above 6.9297, stop loss 6.91 and target of 6.94/6.9525.