• USD/ CNY hit two month high on Tuesday as dollar was bolstered by bets of a possible return of Donald Trump to the White House .
• Bets on former president Trump winning the Nov. 5 election have also lifted U.S. yields as markets anticipate policies that could delay interest rate cuts.
• The yuan is down 1.6% against the dollar this month, as markets price in a potential election victory by Trump.
• At GMT 05:27,the dollar was up 0.19 % at 7.138 against Chinese Yuan.
•Technical signals are bearish as RSI is trending lower, moving averages are trending down
• Immediate resistance is located at 7.140 (23.6%fib), any close above will push the pair towards 7.168 (Higher BB).
• Support is seen at 7.116(38.2%fib) and break below could take the pair towards 7.110 (Oct 24th low).
Recommendation: Good to buy around 7.130 with stop loss of 7.080 and target price of 7.170
