FxWirePro: USD/CNY slides as dollar loses ground

• USD/CNY dipped on Friday  as the dollar weakened and markets stayed cautious ahead of President Trump’s July 9 tariff deadline.

• Markets are focused on U.S. President Trump's July 9 deadline, when the 90-day pause on April 2 tariffs ends, raising uncertainty over duties on nations without trade deals.

•Trump said that on Friday, many countries will receive letters outlining their tariff rates, marking a departure from his earlier pledge to negotiate individual deals with trading partners.

• Meanwhile, China announced it will impose duties of up to 34.9% on EU‑origin brandy for five years, starting July 5.
 

• The yuan is on track for a fifth consecutive weekly gain, its longest winning streak since early April, when it rebounded from a slump triggered by Trump’s tariff shock.

•  Immediate resistance is located at 7.175(SMA 20), any close above will push the pair towards 7.180(38.2%fib)

• Support is seen at 7.154(23.6%fib) and break below could take the pair towards 7.147 (Lower BB).

Recommendation: Good to sell around 7.165, with stop loss of 7.200 and target price of 7.130