• USD/CNY strengthened on Friday as greenback consitued its momentum as investors assessed the outlook for the Federal Reserve's interest rate path.
• Dollar has appreciated around3% so far this month on expectations that Trump's policies could reignite inflation and limit the Fed's ability to cut rates.
• Markets now seea 57.8% chance of a 25-basis-point cut, down from 72.2% a week ago, according to CME's FedWatch Tool.U.S. PCE for October scheduled for release next Friday will be a key focus.
• At GMT 14:23,the dollar was up 0.13% at 7.245 against Chinese Yuan .
• Immediate resistance is located at 7.253(23.6%fib), any close above will push the pair towards 7.263 (Higher BB)
• Support is seen at 7.240(5SMA) and break below could take the pair towards 7.221 (38.2%fib).
Recommendation: Good to buy around 7.240 with stop loss of 7.180 and target price of 7.280
