• USD/CNY hovered around a three-year low as signs of renewed hostilities in the Middle East kept investors cautious.
• yuan strengthened past the psychologically important 6.8-per-dollar level on Thursday on hopes of a U.S.-Iran deal to end the war,.
• The PBOC has persistently set softer-than-expected fixings since last November to maintain currency stability.
• Looking ahead, market attention will shift to U.S. President Donald Trump's visit to China next week and a string of domestic data including trade on Saturday, inflation on Monday and credit lending data later next week.
• Immediate resistance is located at 7.271(38.2%fib), any close above will push the pair towards 7.284(23.6%fib)
• Support is seen at 7.261(50%fib) and break below could take the pair towards 7.250(61.8%fib).
Recommendation: Good to sell around 6.805, with stop loss of 6.815 and target price of 6.790
