- USD/CNY is currently trading around 6.8666 marks.
- It made intraday high at 6.87 and low at 6.8639 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 6.8709 mark.
- A sustained close above 6.8709 marks will test key resistances at 6.8867, 6.8916, 6.9080, 6.9162, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
- Alternatively, a daily close below 6.8639 will drag the parity down towards key supports at 6.8510, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
- PBOC sets Yuan mid-point at 6.8743/dollar vs last close 6.8689.
We prefer to take long position in USD/CNY only above 6.8709, stop loss at 6.8497 and target of 6.8916.


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