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Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling 
- USD/CNY is currently trading around 7.1173 marks.
- It made intraday high at 7.1222 and low at 7.1120 levels.
- Intraday bias remains neutral till the time pair holds key support at 7.1120 mark.
- A sustained close above 7.1210 marks will test key resistances at 7.1548, 7.1877, 7.2095, 7.3645 and 7.58 marks respectively.
- Alternatively, a daily close below 7.1120 will drag the parity down towards key supports at 7.0927, 7.0707 and 7.0497 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/CNY only above 7.1350, stop loss at 7.0970 and target 7.1548/7.1700.
