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• USD/CNY hit one month high on Wednesday as markets awaited clarity from U.S. President Donald Trump's reciprocal tariff plan.
• Developments in U.S. trade policy have kept investors on edge, with potential ramifications for the global economy.
• White House spokesperson Karoline Leavitt confirmed that the new duties would be implemented immediately following Trump's announcement.
• Trump has argued that his tariffs are a response to the imbalance between U.S. tariffs and those charged by other nations.
• At GMT 06:20, the dollar dipped 0.15% to 7.251 against the Chinese Yuan.
• Immediate resistance is located at 7.271(38.2%fib), any close above will push the pair towards 7.284(23.6%fib)
• Support is seen at 7.261(50%fib) and break below could take the pair towards 7.250(61.8%fib).
Recommendation: Good to buy around 7.260, with stop loss of 7.210 and target price of 7.320
