• USD/CNY weakened on Tuesday as robust Chinese economic data lifted the Chinese yuan.
• On Monday, China's economic data fueled optimism as retail sales growth accelerated in January-February, boosting domestic consumption efforts.
• The data indicates that China’s economy is strengthening, driven by a mix of proactive fiscal policies and moderate monetary easing.
• At GMT 08:23,the dollar was down 0.10% at 7.225 against Chinese Yuan .
• Immediate resistance is located at 7.235(50%fib), any close above will push the pair towards 7.247 (61.8%fib)
• Support is seen at 7.224(38.2%fib) and break below could take the pair towards 7.215(Lower BB).
Recommendation: Good to sell around 7.230 with stop loss of 7.270 and target price of 7.180
