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AUD/JPY Dead-Cat Bounce Halted by EMA Wall; Sell-on-Rise Eyes 110.50 Target 
- USD/CNY is currently trading around 7.0381 marks.
- It made intraday high at 7.0392 and low at 7.0302 levels.
- Intraday bias remains neutral till the time pair holds key support at 7.0074 mark.
- A sustained close above 7.0608 marks will test key resistances at 7.07, 7.0920, 7.1030 and 7.1477 marks respectively.
- Alternatively, a daily close below 7.0074 will drag the parity down towards key supports at 6.9765, 6.9525, 6.9297 and 6.88 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/CNY only below 7.0250, stop loss at 7.0496 and target of 7.0168/7.0074.
