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FxWirePro: USD/CNY downside pressure builds, key support level In focus 
- USD/CNY is currently trading around 6.9501 marks.
- It made intraday high at 6.9516 and low at 6.9255 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 6.9633 mark.
- A sustained close above 6.9505 marks will test key resistances at 6.9633, 6.9778 and 6.9883 marks respectively.
- On the other side, a daily close below 6.9426 will drag the parity down towards key supports at 6.9204, 6.9127, 6.9026, 6.9189, 6.8983, 6.8770, 6.8510, 6.8449, 6.8090, 6.7969, 6.7769, 6.7540, 6.7439, 6.7370, 6.7288, 6.7180 and 6.7055.
- 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 6.9489/ dollar vs last close 6.9490.
We prefer to go long on USD/CNY around 6.93, stop loss at 6.9204 and target of 6.9633/6.9778.
