Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CNY opens at lowest level since June 2008, PBOC sets yuan mid-point at 6.9289

  • USD/CNY is currently trading around 6.9332 marks.
     
  • It made intraday high at 6.9353 and low at 6.9024 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 6.8983 mark. 
     
  • A sustained close above 6.9024 marks will test key resistances at 6.9353, 6.9435, 6.9637 and 6.9883 marks respectively.
     
  • On the other side, a daily close below 6.8983 will drag the parity down towards key supports at 6.8770, 6.8510, 6.8449, 6.8090, 6.7969, 6.7769, 6.7540, 6.7439, 6.7370, 6.7288, 6.7180 and 6.7055.
  • 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 6.9289/ dollar vs last close 6.9070.

We prefer to go long on USD/CNY around 6.9250, stop loss at 6.8983 and target of 6.9637.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.