FxWirePro: USD/CNY hits two-week high as yuan weakens on trade concerns

• USD/CNY hit two week high on Monday as investor concerns grew over U.S.-China trade disputes, with Trump’s reciprocal tariffs deadline approaching.

• Investors remain focused on U.S. trade policies, with the White House reaffirming last week that Trump plans to impose new reciprocal tariffs on April 2.

• This week features global PMI data, the Fed’s preferred inflation gauge, inflation reports from Australia and Japan, the UK budget update, and major earnings releases from China.

• At GMT 08:29, the dollar gained 0.05% to 7.255 against the Chinese yuan, after hitting 7.250, its highest since March 10.

•  Immediate resistance is located at 7.260(38.2%fib), any close above will push the pair towards 7.272(March 5th high)

• Support is seen at 7.246(50%fib) and break below could take the pair towards 7.232(61.8%fib).

Recommendation: Good to buy around 7.250, with stop loss of 7.200 and target price of 7.300