• USD/CNY edged lower on Monday as markets awaited clarity from U.S. President Donald Trump's reciprocal tariff plan.
• Trade relations with the U.S. are in focus as Trump announced on Sunday that all countries will face new reciprocal duties starting Wednesday..
• On the data front, China's manufacturing activity grew at its fastest pace in a year in March, according to a factory survey released on Monday.
• The official Purchasing Managers' Index (PMI) increased to 50.5 in March from 50.2 in February, according to the National Bureau of Statistics (NBS), marking the highest level since March 2024.
• At GMT 05:56, the dollar dipped 0.15% to 7.251 against the Chinese Yuan.
• Immediate resistance is located at 7.268(38.2%fib), any close above will push the pair towards 7.272(Higher BB)
• Support is seen at 7.246(March 24th low) and break below could take the pair towards 7.235(38.2%fib).
Recommendation: Good to buy around 7.250, with stop loss of 7.210 and target price of 7.300
