FxWirePro: USD/CNY steadies as U.S.-China trade tensions show no signs of easing

• USD/CNY steadied  on Thursday   as trade frictions between the world's two biggest economies showed no signs of easing.

• The U.S. announced new restrictions on certain Nvidia chip exports to China, escalating trade tensions between the two largest global economies.

• China’s foreign ministry warned Thursday that it will ignore the U.S. if Washington persists in using tariffs as a bargaining tactic.

• The escalating tariff battle between the U.S. and China is raising fears over global economic growth, with President Trump’s shifting trade stance further unsettling markets.

• At GMT 06:06, the dollar was up 0.07% to 7.308 against the Chinese Yuan.

•  Immediate resistance is located at 7.316(50%fib), any close above will push the pair towards 7.331(38.2%fib)

• Support is seen at 7.300(50%fib) and break below could take the pair towards 7.287(Lower BB).

Recommendation: Good to buy around 7.300, with stop loss of 7.250 and target price of 7.330