FxWirePro: Chinese yuan marginally lower after China Premier Li’s comments

• USD/CNY is currently trading around 6.8410 marks.
   
• It made intraday high at 6.8440 and low at 6.8377 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.8250 marks.
   
• A sustained close above 6.8381 marks will test key resistances at 6.8526, 6.8671, 6.8882, 6.8942, 6.9010 marks 6.9080 marks respectively.
   
• Alternatively, a daily close below 6.8381 will drag the parity down towards key supports at 6.8250, 6.8174, 6.8057, 6.7887, 6.7769, 6.7626, 6.7520 and 6.7436 marks respectively.
   
• PBOC sets yuan mid-point at 6.8292/ dlr vs last close 6.8415.
   
• China Premier Li - China will fulfil its promises on tackling climate change.
   
• China Premier Li - China aims for relatively full employment.
   
• China Premier Li - China's economy maintains steady, improving momentum in Q2.
   
• China Premier Li - China fully capable to achieve full-year growth target.
   
• China Premier Li - China will keep macro-policies stable, implement proactive fiscal policy, prudent monetary policy.

We prefer to take long position in USD/CNY around 6.8380, stop loss at 6.8310 and target of 6.8526/6.8578.

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