• USD/CNY is currently trading around 6.8917 marks.
  
• It made intraday high at 6.8937 and low at 6.8879 levels.
  
• Intraday bias remains slightly bearish till the time pair holds key resistance at 6.9000 marks.
  
• A sustained close above 6.8899 marks will test key resistances at 6.9080, 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
  
• Alternatively, a daily close below 6.8899 will drag the parity down towards key supports at 6.8907, 6.8823, 6.8749, 6.8683, 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
  
• PBOC sets yuan mid-point at 6.8790 / dlr vs last close 6.8970.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.