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US dollar erases previous loss against Chinese Yuan, good to buy on dips

  • USDCNY is currently trading at 6.4845 levels.
     
  • It made intraday high at 6.4845 and low at 6.4682 levels.
     
  • Intraday bias remains bullish for the moment.
     
  • A sustained break below 6.4590 will tests another support around 6.4525/6.4351 levels.
     
  • Alternatively, reversal from key support will drag the parity back above 6.4910/ 6.5128 marks.

We prefer to take long position in USD/CNY around 6.48, stop loss 6.4628 and target 6.4910 levels.

  • Market Data
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