• USD/CNY hit fresh 16-month high on Wednesday as strong dollar and tariff threats from U.S. President-elect Donald Trump's incoming administration weighed on the Chinese Yuan .
• The dollar gained after data on Tuesday U.S. job openings rose unexpectedly in November, suggesting a slower labor market that may not prompt quick Fed rate cuts.
• Trump, set to take office on Jan. 20, denied a report suggesting his aides were considering tariffs on only critical imports, fueling uncertainty among business leaders about future U.S. trade policies.
• At GMT 09.52,the dollar was up 0.02% at 7.298 against Chinese Yuan .
• Immediate resistance is located at 7.333(23.6%fib), any close above will push the pair towards 7.339(Higher BB)
• Support is seen at 7.312(Jan 6th low) and break below could take the pair towards 7.297(38.2%fib).
Recommendation: Good to buy around 7.320 with stop loss of 7.280 and target price of 7.380
