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FxWirePro: USD/CNY fails to find support below 7.10 mark, further sideways movement likely

Wednesday, September 11, 2019 3:27 AM UTC

USD/CNY is currently trading around 7.1173 marks.
It made intraday high at 7.1222 and low at 7.1120 levels.
Intraday bias remains neutral till the time pair holds key support at 7.1120 mark.
A sustained close above 7.1210 marks will test key resistances at 7.1548, 7.1877, 7.2095, 7.3645 and 7.58 marks respectively.
Alternatively, a daily close below 7.1120 will drag the parity down towards key supports at 7.0927, 7.0707 and 7.0497 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position on USD/CNY only above 7.1350, stop loss at 7.0970 and target 7.1548/7.1700.

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FxWirePro: USD/CNY fails to find support below 7.10 mark, further sideways movement likely

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