• USD/ CNY hit one week low on Monday as yuan firmed on stronger-than-expected export data.
• China's exports picked up in June as firms rushed to complete orders under a fragile U.S. tariff truce, ahead of a looming deadline..
• China’s exports rose 5.8% in June from a year earlier, surpassing the 5.0% forecast and May’s 4.8% growth, according to customs data released Monday.
• China’s imports rebounded 1.1% in June, recovering from May’s 3.4% drop but falling short of the expected 1.3% increase.
• Looking ahead, markets will focus on a batch of Chinese data due Tuesday, including retail sales, industrial output, and second-quarter GDP.
• At GMT 07:43,the dollar was down 0.02% at 7.167 against Chinese Yuan.
• Immediate resistance is located at 7.183 (38.2%fib), any close above will push the pair towards 7.192(Higher BB).
• Support is seen at 7.155(23.6%fib) and break below could take the pair towards 7.152 (Lower BB).
Recommendation: Good to sell around 7.170 with stop loss of 7.220 and target price of 7.140
