FxWirePro: Chinese yuan marginally lower after mixed data from China

• USD/CNY is currently trading around 6.8733 marks.
   
• It made intraday high at 6.8735 and low at 6.8579 levels.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close above 6.8679 marks will test key resistances at 6.8789, 6.9080, 6.9162, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.8679 will drag the parity down towards key supports at 6.8510, 6.8449, 6.8090 and 6.7769 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• PBOC sets Yuan mid-point at 6.8693/ dollar vs last close 6.8750.
   
• China’s December retail sales y/y increases to 10.9 % (forecast 10.7 %) vs previous 10.8 %.
   
• China’s December urban investment (ytd) y/y decrease to 8.1 % (forecast 8.3 %) vs previous 8.3 %.
   
• China’s December industrial output yy* decrease to 6 % (forecast 6.1 %) vs previous 6.2 %.
• China’s Q4 GDP y/y increase to 6.8 % (forecast 6.7 %) vs previous 6.7 %.
   
• China’s Q4 GDP q/q decrease to 1.7 % (forecast 1.7 %) vs previous 1.8 %.                 

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.