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Renminbi Series

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FxWirePro: USD/CNY refrains to fall below 6.5040, China CPI data in focus

Wednesday, March 9, 2016 6:35 AM UTC

Pair is currently trading at 6.5121 levels.
It made intraday high at 6.5121 and 6.5044 levels.
Intraday bias remains bullish for the moment.
A daily close below 6.5040 will take the parity towards key support at 6.4910/ 6.4737 marks.
Alternatively, reversal will take the parity around 6.55/ 6.5758 levels thereafter.
Looking ahead, traders now focus on the China's CPI figure due tomorrow and likely to remain steady at 1.8%.

Trading call: Go long on USD/CNY around 6.51, stop loss 6.4910 and target 6.5758 levels.

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Renminbi Series

FxWirePro: USD/CNY refrains to fall below 6.5040, China CPI data in focus

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