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FxWirePro: Chinese yaun rises on the back of higher than expected house price data

  • USD/CNY is currently trading around 6.9342 marks.
     
  • It made intraday high at 6.9504 and low at 6.9338 levels.
     
  • Intraday bias remains bearish for the moment.
     
  • A sustained close above 6.9499 marks will test key resistances at 6.9620, 6.9768, 6.9850, 6.9929 and 6.9980 marks respectively.
     
  • Alternatively, a daily close below 6.9499 will drag the parity down towards key supports at 6.9320, 6.9210, 6.8894, 6.8670, 6.8420 and 6.8215 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
     
  • PBOC sets yuan mid-point at 6.9392 / dlr vs last close 6.9500.
     
  • China Oct 2018 house prices yy increase to 8.6 % vs previous 7.9 %.

We prefer to take short position on USD/CNY around 6.9400, stop loss at 6.9510 and target of 6.9210.

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2019-05-21 00:59:19
0m

May 21 00:00 UTC Released

SGGDP Final YY

Actual

1.2 %

Forecast

1.5 %

Previous

1.3 %

May 21 00:00 UTC Released

SGGDP Final QQ

Actual

3.8 %

Forecast

2.3 %

Previous

2 %

January 31 00:00 UTC 684123684123m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 684123684123m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 695943695943m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 684123684123m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 695943695943m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 684123684123m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 684123684123m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 684123684123m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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