FxWirePro: USD/CNY hovers around 6.52, a sustain break above targets 6.55
USD/CNY is currently trading around 6.5203 marks. It made intraday high at 6.5238 and low at 6.5184 levels. Intraday bias remains bullish till the time pair holds key support at 6.4910 levels. A daily close below 6.4910 …
It made intraday high at 6.5238 and low at 6.5184 levels.
Intraday bias remains bullish till the time pair holds key support at 6.4910 levels.
A daily close below 6.4910 will drag the parity down towards key supports at 6.4721, 6.4531 levels.
On the other side, a sustained close above 6.52 marks will test key resistances at 6.5358, 6.5525(March 02, 2016 high) and 6.5708(50D EMA) levels respectively.
We prefer to take long position in USD/CNY around 6.5180, stop loss 6.4910 and target 6.5358/ 6.5525 levels.
