• USD/CNY steadied around 7.292 on Thursday as concerns over escalating U.S.-China trade tensions beginning to ease.
•China imposed targeted tariffs on U.S. imports on Tuesday and warned several companies, including Google, of potential sanctions in a measured response to Trump's tariffs.
•Trump said Tuesday he was in no hurry to speak with Chinese President Xi Jinping as the tariff took effect.
• Beijing's limited response to Trump's 10% tariff on all Chinese imports highlighted China's effort to engage Trump in talks and avoid a full-blown trade war between the world's two largest economies.
• At GMT 08:46,the dollar was up 0.25% at 7.292 against Chinese Yuan .
• Immediate resistance is located at 7.300(Psychological level), any close above will push the pair towards 7.322(23.6%fib)
• Support is seen at 7.282(50%fib) and break below could take the pair towards 7.264(61.8%fib).
Recommendation: Good to buy around 7.285 with stop loss of 7.240 and target price of 7.320
