• USD/CNY dipped near a 3-month low on Friday, as China's yuan was supported by investor optimism that the U.S. and China might reach a deal to avoid a trade war.
• President Donald Trump said on Wednesday that a trade deal with Beijing was possible and anticipated a visit from Chinese President Xi Jinping to the U.S., though no timeline was provided.
• Investors are awaiting further clues from U.S. Treasury Secretary Scott Bessent's scheduled call with his Chinese counterpart on Friday.
• At (GMT 07:22) dollar was trading down 0.13% at 7.243 against the Chinese yaun.
• Immediate resistance is located at 7.282(Feb 20th high), any close above will push the pair towards 7.318(23.6%fib).
• Support is seen at 7.243(38.2%fib) and break below could take the pair towards 7.217(Lower BB).
Recommendation: Be on siidelines
