FxWirePro: USD/CNY remains well supported above 6.88 mark, PBOC sets yuan mid-point at 6.8823

• USD/CNY is currently trading around 6.8833 marks.
   
• It made intraday high at 6.8846 and low at 6.8774 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.8749 marks. 
   
• A sustained close above 6.8822 marks will test key resistances at 6.8909, 6.8962, 6.9037, 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.8822 will drag the parity down towards key supports at 6.8749, 6.8683, 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
   
• PBOC sets Yuan mid-point at 6.8823/dollar vs last close 6.8840.

We prefer to take long position in USD/CNY only above 6.8909, stop loss at 6.8749 and target of 6.8993/6.9107.