Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CNY jumps above 6.39 mark, PBOC sets yuan mid-point at 6.3816

  • USD/CNY is currently trading around 6.3922 marks.
     
  • It made intraday high at 6.3946 and low at 6.3861 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 6.3659 mark.
     
  • A sustained close above 6.3884 marks will test key resistances at 6.3948, 6.4017, 6.4178 and 6.4329 marks respectively.
     
  • Alternatively, a daily close below 6.3884 will drag the parity down towards key supports at 6.3764, 6.3654, 6.3510, 6.3313 and 6.3210 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 6.3816 / dlr vs last close 6.3883.

We prefer to take long position on USD/CNY around 6.3890, stop loss 6.3659 and target of 6.4178.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.