FxWirePro: USD/CNY hovers around key support at 6.4910, intraday bias remains neutral

• Pair is currently supported above 6.49 marks and trading around 6.4917 levels.
   
• It made intraday high at 6.4925 and low at 6.4880 levels.
   
• Today PBOC sets Yuan mid-point at 6.4837/ dollar vs last close 6.4895.
   
• Intraday bias remains neutral 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 6.4736/6.4531 levels.
   
• On the other side, a sustained close above 6.4910 will test key resistances at 6.5182, 6.5525 and 6.5708 levels respectively.

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.