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FxWirePro: USD/CNY breaks key resistance at 6.8352 mark, PBOC sets yuan mid-point at 6.8238

Friday, June 23, 2017 4:08 AM UTC

USD/CNY is currently trading around 6.8414 marks.
It made intraday high at 6.8433 and low at 6.8323 levels.
Intraday bias remains bullish for the moment.
A sustained close above 6.8348 marks will test key resistances at 6.8526, 6.8671, 6.8882, 6.8942, 6.9010 marks 6.9080 marks respectively.
Alternatively, a daily close below 6.8348 will drag the parity down towards key supports at 6.8259, 6.8174, 6.8057, 6.7887, 6.7769, 6.7626, 6.7520 and 6.7436 marks respectively.
PBOC sets yuan mid-point at 6.8238/ dlr vs last close 6.8368.

We prefer to take long position in USD/CNY around 6.8380, stop loss at 6.8259 and target of 6.8526/6.8578.

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FxWirePro: USD/CNY breaks key resistance at 6.8352 mark, PBOC sets yuan mid-point at 6.8238

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