FxWirePro: USD/CNY jumps above 6.90 mark, PBOC sets yuan mid-point at the weakest level since April 10

• USD/CNY is currently trading around 6.9066 marks.
   
• It made intraday high at 6.9080 and low at 6.9052 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.8985 marks. 
   
• A sustained close above 6.9044 marks will test key resistances at 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.9044 will drag the parity down towards key supports at 6.8749, 6.8683, 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
   
• PBOC sets yuan mid-point at 6.9037 / dlr vs last close 6.9050.

We prefer to take long position in USD/CNY around 6.9060, stop loss at 6.8985 and target of 6.9150.