USD/CNY hovers around key resistance at 6.5195, intraday bias remains neutral
USDCNY is currently trading around 6.5162 levels. It made intraday high at 6.5208 and low at 6.5148 levels. Intraday bias remains neutral for the moment. A sustained break above 6.5195 will tests another resistance aroun…
It made intraday high at 6.5208 and low at 6.5148 levels.
Intraday bias remains neutral for the moment.
A sustained break above 6.5195 will tests another resistance around 6.5374/6.5580 levels.
Alternatively, reversal from key resistance will drag the parity down around 6.4910/ 6.4682 marks.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
