FxWirePro: USD/CNY recovers some ground, downtrend likely to resume

• USD/CNY recovered from 1-1/2 month low  on Wednesday as China's yuan weakened   after Beijing announced major monetary easing measures to boost growth amid rising U.S.-China trade tensions.

• Chinese authorities rolled out stimulus measures, including rate cuts and a major liquidity injection, to cushion the economy from U.S.-China trade war impacts.

• The announcements come shortly after U.S. and Chinese officials confirmed that Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's top economic official He Lifeng in Switzerland this weekend for talks  .

• The talks mark the first chance for both sides to ease tensions after a prolonged standoff over tariffs, which disrupted global markets and supply chains as neither side wanted to appear to back down.

• At GMT 08:59, the dollar was up 0.14% to 7.226 against the Chinese Yuan.

•  Immediate resistance is located at 7.238(50%fib), any close above will push the pair towards 7.260(50%fib)

• Support is seen at 7.217(Daily low) and break below could take the pair towards 7.210(23.6%fib).

Recommendation: Good to sell around 7.230, with stop loss of 7.280 and target price of 7.170