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- USD/CNY is currently trading around 6.5180.
- It made intraday high at 6.5183 and low at 6.5128 levels.
- Intraday bias remains bullish for the moment.
- China Premier Li Keqiang said on Wednesday that China's 2016 economic growth target of 6.5-7% would be impossible to miss, even as downward pressure from a slowing property market endures.
- He added, financial sector should help the real economy and the development of small companies.
- On the top side, key resistance falls at 6.5510/ 6.5710 levels.
- Initial support level is seen at 6.4910 levels and daily close below will take the parity towards key support are at 6.4736 marks.
We prefer to long position in USD/CNY around 6.5150, stop loss 6.5045 and target 6.5361/ 6.5510 levels.
