• USD/CNY hit thirteen month high on Tuesday as tariff risks and weakness in China's economy pushed the yuan lower .
• Over the weekend, Trump threatened to impose punitive tariffs unless BRICS member countries committed to maintaining the dollar as the global reserve currency.
• Less than a week earlier, Trump announced plans to impose an additional 10% tariff on China, adding to his campaign pledge of tariffs exceeding 60% on Chinese goods.
• At GMT 07:02,the dollar was up 0.15% at 7.282 against Chinese Yuan .
• Immediate resistance is located at 7.291(Daily high), any close above will push the pair towards 7.300(Higher BB)
• Support is seen at 7.227(38.2%fib) and break below could take the pair towards 7.258(SMA 5).
Recommendation: Good to buy around 7.270 with stop loss of 7.200 and target price of 7.350
