Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CNY hits fresh 5 –year high at 6.6091, 6.6377 in focus

  • USD/CNY is currently trading around 6.6091 marks.
     
  • It made intraday high at 6.6122 and low at 6.5702 levels.
     
  • Intraday bias remains bullish for the moment till the time pair holds key support at 6.5930 marks.
     
  • On the top side, a sustained close above 6.5930 marks will test key resistance at 6.6152, 6.6230, 6.6278 and 6.6377 marks.
     
  • Alternatively, reversal from key resistance will drag the parity down towards key supports at 6.5930, 6.5710, 6.5510(20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
     
  • Important to note here that, 20D EMA, 30D and 55D EMA heads up, which confirms bullish trend.
     
  • PBOC sets Yuan mid-point at 6.5776/ dollar vs last close 6.5795.

We prefer to take long position in USD/CNY only above 6.6122, stop loss 6.5930 and target 6.6377 levels.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.