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- USD/CNY is currently trading around 6.6599 marks.
- It made intraday high at 6.6642 and low at 6.6473 levels.
- Intraday bias remains bullish till the time pair holds key support at 6.6388 mark.
- On the top side, a sustained close above 6.6510 mark will test key resistances at 6.6876, 6.7017, 6.7583 and 6.8158 marks respectively.
- Alternatively, a daily close below 6.6388 will drag the parity down towards key supports at 6.6205, 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
- PBOC sets Yuan mid-point at 6.6615/ dollar vs last close 6.6505.
We prefer to take long position in USD/CNY around 6.6510, stop loss 6.6388 and target 6.6876.
