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FxWirePro: USD/CNY hits fresh 6-month high at 6.5406 mark, PBOC sets yuan mid-point at 6.4893

  • USD/CNY is currently trading around 6.5322 marks.
     
  • It made intraday high at 6.5406 and low at 6.5008 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 6.4899 marks.
     
  • A sustained close above 6.5026 marks will test key resistances at 6.5407, 6.5580, 6.5858 and 6.6042 marks respectively.
     
  • Alternatively, a daily close below 6.5026 will drag the parity down towards key supports at 6.4899, 6.4639, 6.4378, 6.4125 and 6.4017 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 6.4893 / dlr vs last close 6.4950.

We prefer to take long position on USD/CNY around 6.5250, stop loss 6.5000 and target of 6.5580/6.5749.

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January 31 00:00 UTC 334354334354m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 346174346174m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 334354334354m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 334354334354m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 334354334354m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

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