FxWirePro: USD/CNY loses momentum but outlook is bullish

• USD/CNY edged lower on Friday  as concerns over deteriorating trade relations between the world’s two largest economies weighed on market sentiment.

• Trade relations with the United States have captured investor attention, as U.S. President Donald Trump prepares to impose new reciprocal tariffs on multiple trading partners, effective April 2.

• Markets will keep an eye on upcoming economic data, including China's March manufacturing activity report due on Monday, for further insights into the overall health of the economy.

• Looking ahead, market is closely awaiting the release of the U.S. personal consumption expenditures (PCE) data later today, as it serves as the Federal Reserve's preferred measure of inflation..

• At GMT 07:01, the dollar down 0.01% to 7.263 against the Chinese Yuan.

•  Immediate resistance is located at 7.271(23.6%fib), any close above will push the pair towards 7.280(Higher BB)

• Support is seen at 7.258(38.2%fib) and break below could take the pair towards 7.248(50%fib).

Recommendation: Good to buy around 7.260, with stop loss of 7.230 and target price of 7.300