FxWirePro: USD/CNY hovers around 6.63 mark, PBOC sets yuan mid-point at 6.6195
USD/CNY is currently trading around 6.6283 marks. It made intraday high at 6.6336 and low at 6.6233 levels. Intraday bias remains neutral for the moment. On the top side, a sustained close above 6.6423 mark will test key…
It made intraday high at 6.6336 and low at 6.6233 levels.
Intraday bias remains neutral for the moment.
On the top side, a sustained close above 6.6423 mark will test key resistances at 6.6510, 6.6876, 6.7017, 6.7583 and 6.8158 marks respectively.
Alternatively, a daily close below 6.6150 will drag the parity down towards key supports at 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
PBOC sets Yuan mid-point at 6.6195/ dollar vs last close 6.6299.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
