FxWirePro: USD/CNY downside pressure builds, key support level in focus

• USD/CNY edged lower on Tuesday as the Chinese yuan held firm despite renewed market anxiety over Trump’s tariff plans.

• On Monday, President Trump began informing trade partners from major suppliers like Japan and South Korea to smaller players that significantly higher U.S. tariffs would take effect on August 1.

•The announcement sparked renewed market anxiety, shaking investor confidence and setting a cautious, downbeat tone across Asian financial markets on Tuesday.

• China on Tuesday warned the Trump administration against reigniting trade tensions by reimposing tariffs on its goods next month, and threatened to retaliate against countries that align with the U.S. in efforts to exclude China from global supply chains.

 •At GMT 07:09, the dollar was trading down 0.04% at 7.171 against Chinese Yuan    .

•  Immediate resistance is located at 7.181 (38.2%fib), any close above will push the pair towards 7.197(Higher B)

• Support is seen at 7.152(38.2%fib) and break below could take the pair towards 7.141 (Novth low).

Recommendation: Good to sell around 7.180, with stop loss of 7.230 and target price of 7.130