• USD/CNY traded n tight range on Friday as investors anxiously awaited news on whether a tariff truce would be extended between the world's two largest economies.
• China faces tariffs over 100% and has until August 12 to reach a deal with the White House to avoid renewed import restrictions from earlier tariff escalations.
• The yuan traded in a tight range this week as markets awaited developments and evaluated U.S. trade deals with other nations.
• The yuan has gained 1.6% against the weakening dollar this year, as the central bank maintained stability against the greenback .
• At GMT 05:47, the dollar was up 0.01% to 7.181 against the Chinese Yuan.
• Immediate resistance is located at 7.184(38.2%fib), any close above will push the pair towards 7.210(Higher BB)
• Support is seen at 7.178(SMA20) and break below could take the pair towards 7.167 (May 26th low).
Recommendation: Be on sidelines
