- USD/CNY is currently trading around 6.6280 marks.
- It made intraday high at 6.6397 and low at 6.6262 levels.
- Intraday bias remains neutral till the time pair holds key support at 6.6223 marks.
- On the top side, a sustained close above 6.65 mark will test key resistances at 6.6650, 6.6876, 6.7017, 6.7583 and 6.8158 marks respectively.
- Alternatively, a daily close below 6.6223 will drag the parity down towards key supports at 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
- PBOC sets Yuan mid-point at 6.6305/ dollar vs last close 6.6370.
We prefer to take short position in USD/CNY only below 6.6223, stop loss 6.6480 and target 6.6110/6.6042.


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