- USD/CNY is currently trading around 6.8311 marks.
- It made intraday high at 6.8342 and low at 6.8229 levels.
- Intraday bias remains bullish for the moment.
- A sustained close above 6.8291 marks will test key resistances at 6.8526, 6.8671, 6.8882, 6.8942, 6.9010 marks 6.9080 marks respectively.
- Alternatively, a daily close below 6.8291 will drag the parity down towards key supports at 6.8174, 6.8057, 6.7887, 6.7769, 6.7626, 6.7520 and 6.7436 marks respectively.
- PBOC sets yuan mid-point at 6.8193/ dlr vs last close 6.8295.
We prefer to take long position in USD/CNY around 6.8280, stop loss at 6.8174 and target of 6.8526.
