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• USD/CNY edged higher on Wednesday as yuan weakned amid escalating fighting in the Middle East.
• The U.S. military said late on Tuesday it began its latest strikes on Iran, marking the 11th consecutive night of American attacks.
• Adding to the geopolitical tensions,Trump is poised to unleash fresh tariffs on dozens of countries as soon as this week, media reported on Tuesday.
• Investors are now shifting their attention to an upcoming meeting of the Communist Party's Politburo, the country's top decision-making body, expected around the end of July.
•Policymakers are expected to set the economic policy agenda for the second half of the year, which could affect the yuan's outlook .
• Immediate resistance is located at 6.780(38.2%fib), any close above will push the pair towards 6.783(SMA 20)
• Support is seen at 6.763(Daily low) and break below could take the pair towards 6.753 (23.6%fib).
Recommendation: Good to sell around 6.780, with stop loss of 6.830 and target price of 6.740
