FxWirePro: USD/CNY jumps above 6.7750 mark, PBOC sets yuan mid-point at 6.7744

• USD/CNY is currently trading around 6.7740 marks.
   
• It made intraday high at 6.7788 and low at 6.7723 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.7439 marks. 
   
• On the top side, a sustained close above 6.77 marks will test key resistances at 6.7831, 6.8025 and 6.8158 marks respectively.
   
• Alternatively, a daily close below 6.7439 will drag the parity down towards key supports at 6.7288, 6.7180, 6.7055, 6.6820, 6.6605, 6.6560, 6.6425, 6.6281, 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
   
• PBOC sets Yuan mid-point at 6.7744/ dollar vs last close 6.7775.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• China's Urban registered unemployment rate was 4.04 pct at end-Sept - Labour ministry.
   
• China Central bank deputy governor says Yuan exchange rate will continue to remain basically stable, no foundation for continuous depreciation - People's Daily.

We prefer to take long position in USD/CNY around 6.77, stop loss at 6.7439 and target of 6.7831/6.8158.