USD/CNY remains well supported below key resistance at 6.5525
Pair is currently trading around 6.5508 levels. It made intraday high at 6.5508 and low at 6.5459 levels. Today China's Caixin Services Purchasing Managers' Index (PMI) fell from a six-month high of 52.4 in January to 51…
It made intraday high at 6.5508 and low at 6.5459 levels.
Today China's Caixin Services Purchasing Managers' Index (PMI) fell from a six-month high of 52.4 in January to 51.2 in February.
Intraday bias remains neutral for the moment.
On the top side key resistance falls at 6.57 levels.
A current rebound from 6.4910 is likely to continue in short term.
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.
