- USD/CNY is currently trading around 6.8776 marks.
- It made intraday high at 6.8826 and low at 6.8734 levels.
- Intraday bias remains neutral for the moment.
- A sustained close above 6.8742 marks will test key resistances at 6.8805, 6.8868, 6.8976, 6.9050 and 6.9248 marks respectively.
- Alternatively, a daily close below 6.8742 will drag the parity down towards key supports at 6.8628, 6.8525, 6.8210, 6.80 and 6.7813 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 6.8688/ dlr vs last close 6.8768.
- China Apri 2019 China house prices yy increase to 10.7 % vs previus 10.6 %.
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.
