FxWirePro: USD/CNY holds steady ahead of key Fed policy announcement

• USD/CNY edged higher on Wednesday as investors looked ahead to the Federal Reserve's policy decision due later in the session for more clues on the outlook for the U.S. economy.

• Fed policymakers are expected to hold rates steady, but investors are eager for insights on how Trump’s trade policy could impact future rate projections.

•The U.S. has slapped a range of tariffs on its trading partners, including China.

• The Chinese yuan has gained from the dollar’s nearly 4% decline this month, driven by Trump’s unpredictable tariff actions and U.S. recession fears.

• At GMT 14:49,the dollar was up 0.03% at 7.225 against Chinese Yuan .

•  Immediate resistance is located at 7.236(38.2%fib), any close above will push the pair towards 7.251(61.8%fib)

• Support is seen at 7.218(23.6%fib) and break below could take the pair towards 7.214(Lower BB).

Recommendation: Be on sideliness