• USD/CNY eased modestly on Thursday as investors assessed prospects for an Iran peace deal, while looking ahead to looming domestic trade data for fresh clues on the currency's outlook.
• Markets stayed cautious as Gulf tensions persisted after reports that a proposed Iran-Oman deal could give Tehran control over inbound Strait of Hormuz traffic.
• Market participants will be watching Friday's trade data closely for signals on the strength of China's economy and the yuan's trajectory.
•Investors are also turning their attention to U.S. labour market data ahead of Friday's closely watched nonfarm payrolls report.
• Immediate resistance is located at 6.766(SMA20), any close above will push the pair towards 6.778(38.2%fib)
• Support is seen at 6.744(23.6%fib) and break below could take the pair towards 6.741 (Lower BB).
Recommendation: Good to sell around 6.750, with stop loss of 6.800 and target price of 6.720
