• USD/CNY dipped on Thursday as the yuan found support from the strongest PBOC fixing in 10 months.
• Ahead of the market open, the People’s Bank of China set the reference rate at 7.1063 per dollar, the strongest since November 2024.
• Meanwhile, dollar edged lower as markets priced in greater odds of a Fed rate cut next month, following dovish remarks from Fed President John Williams.
• Market focus now turns to Friday’s release of the Personal Consumption Expenditures Price Index, the Fed’s preferred inflation gauge, for signals on the U.S. rate-cut outlook.
• At GMT 06:47, the dollar was down 0.14% to 7.142 against the Chinese Yuan.
• Immediate resistance is located at 7.150(38.2%fib), any close above will push the pair towards 7.174(SMA 20).
• Support is seen at 7.137(Lower BB) and break below could take the pair towards 7.110 (23.6%fib).
Recommendation: Good to sell around 7.150, with stop loss of 7.170 and target price of 7.130


Gold Loses Steam After Strong U.S. Retail Sales
FxWirePro: USD/JPY holds steady near 162 as traders await fresh catalysts
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align
JPY Action Bias: CADJPY Turns Extremely Bullish While Other Pairs Hold Positive Ground
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
FxWirePro- Major Crypto levels and bias summary
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
NZDJPY Bullish Setup: Buy Dips at 94.50 as Uptrend Holds Above All Key EMAs
Major Pair Action Bias: Extremely Bullish Surge Powers GBPUSD & NZDUSD as Bullish Momentum Ignites
FxWirePro: AUD/ USD eases as risk sentiment remains fragile
FxWirePro: GBP/USD under pressure despite UK's modest economic growth
FxWirePro: USD/CAD falls after BoC rate hold and weak U.S. producer inflation
FxWirePro: NZD/USD trades in narrow range ,outlook bullish
Major Pair Action Bias: NZDUSD Turns Bullish While Other Majors Stay Neutral 



