FxWirePro: USD/CNY remains well supported above 6.88 mark, PBOC sets yuan mid-point at 6.8809

• USD/CNY is currently trading around 6.8848 marks.
   
• It made intraday high at 6.8865 and low at 6.8779 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.8674 mark.
   
• A sustained close above 6.8793 marks will test key resistances at 6.8916, 6.9080, 6.9162, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.8793 will drag the parity down towards key supports at 6.8610, 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
   
• PBOC sets Yuan mid-point at 6.8809/dollar vs last close 6.8824.                                          

We prefer to take long position in USD/CNY around 6.88, with stop loss at 6.8674 and target of 6.8916/6.9012.