FxWirePro: USD/CNY slips as trade truce lifts Yuan

• USD/CNY dipped on Thursday as Yuan firmed as the provisional trade truce between the U.S. and China boosted optimism that further tariff escalation could be avoided.

•Officials from the U.S. and China said Tuesday they had reached a framework to revive their trade truce and lift China's export curbs on rare earths, though a lasting solution to deeper trade disputes remains elusive.

•Following two days of talks in London, U.S. Commerce Secretary Howard Lutnick said the new trade framework adds substance to last month’s Geneva agreement, aiming to ease steep retaliatory tariffs between the two countries.

• Trump’s changing tariff policies have disrupted global markets, caused port delays, and led to billions in corporate losses from reduced sales and rising costs.

 • At GMT 05:17, the dollar was up 0.17% to 7.180 against the Chinese Yuan.

•  Immediate resistance is located at 7.193(38.2%fib), any close above will push the pair towards 7.209(61.8%fib)

• Support is seen at 7.177(38.2%fib) and break below could take the pair towards 7.163 (Lower BB).

Recommendation: Good to sell around 7.190, with stop loss of 7.240 and target price of 7.150