FxWirePro: USD/CNY jumps above 6.55 mark, PBOC sets yuan mid-point at weakest since January 10

• USD/CNY is currently trading around 6.5509 marks.
   
• It made intraday high at 6.5527 and low at 6.5340 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.5008 marks.
   
• A sustained close above 6.5385 marks will test key resistances at 6.5580, 6.5749, 6.5858 and 6.6042 marks respectively.
   
• Alternatively, a daily close below 6.5385 will drag the parity down towards key supports at 6.5008, 6.4899, 6.4639, 6.4378, 6.4125 and 6.4017 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• PBOC sets yuan mid-point at 6.5180 / dlr vs last close 6.5389.

We prefer to take long position on USD/CNY around 6.5480, stop loss 6.5250 and target of 6.5749.