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• USD/CNY declined on Tuesday as investors trimmed their dollar long positions amid U.S. recession fears, supporting the yuan.
• Trump's protectionist policies have unsettled global markets, with tariff actions against Canada, Mexico, and China triggering retaliatory measures.
• U.S. Commerce Secretary Howard Lutnick said on Sunday Trump would not let up pressure on tariffs on Mexico, Canada and China.
• Investors have been increasingly concerned about downside risks to global growth from tariffs, especially amid a string of weak U.S. economic data pointing to a slowdown in the world's largest economy.
• At GMT 08:23,the dollar was down 0.40% at 7.229 against Chinese Yuan .
• Immediate resistance is located at 7.275(38.2%fib), any close above will push the pair towards 7.294(March 3rd high)
• Support is seen at 7.222(23.6%fib) and break below could take the pair towards 7.213(Lower BB).
Recommendation: Good to sell around 7.230 with stop loss of 7.270 and target price of 7.180
