FxWirePro: USD/ CNY gains some ground but bearish outlook persists

• USD/CNY edged higher on Tuesday as investors awaited the minutes of the Federal Reserve's latest meeting and other fresh domestic economic data

• China is due to report June inflation data on Thursday, followed by second-quarter gross domestic product (GDP) figures and other activity indicators next Wednesday.

•The World Bank projected on Tuesday that China's economic growth would ease to 4.4% in 2026 and to 4.3% in 2027 as the property sector continues to adjust to lower housing demand and consumers remain cautious.

•Another market focus is the Fed's monetary policy trajectory, with investors shifting their attention to the minutes of the Federal Open Market Committee's (FOMC) June meeting, due on Wednesday, for clues on the U.S. rate outlook.

•  Immediate resistance is located at 6.809(38.2%fib), any close above will push the pair towards 6.818(Higher BB)

• Support is seen at 6.783(38.2%fib) and break below could take the pair towards 6.780 (SMA 20).

Recommendation: Good to sell around 6.800, with stop loss of 6.830 and target price of 6.760