Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CNY trades in narrow range, PBOC sets yuan mid-point at 6.9449

  • USD/CNY is currently trading around 6.9430 marks.
     
  • It made intraday high at 6.9496 and low at 6.9422 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 6.9290 mark.
     
  • A sustained close above 6.9447 marks will test key resistances at 6.9525, 6.9620, 6.9768, 6.9850, 6.9929 and 6.9980 marks respectively.
     
  • Alternatively, a daily close below 6.9447 will drag the parity down towards key supports at 6.9290, 6.9210, 6.8894, 6.8670, 6.8420 and 6.8215 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 6.9449 / dlr vs last close 6.9455.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

  • Market Data
Close

Welcome to EconoTimes

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