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FxWirePro: Chinese yuan rises against U.S. dollar, PBOC sets yuan mid-point at 6.8996

  • USD/CNY is currently trading around 6.8928 marks.
     
  • It made intraday high at 6.9153 and low at 6.8924 levels.
     
  • Intraday bias remains slightly bearish for the moment.
     
  • A sustained close above 6.9075 marks will test key resistances at 6.9210, 6.9396, 6.9525 and 6.9620 marks respectively.
     
  • Alternatively, a daily close below 6.9075 will drag the parity down towards key supports at 6.8886, 6.8525, 6.8348, 6.8210, 6.8095, 6.8020 and 6.7864 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 6.8996 / dlr vs last close 6.9099.

We prefer to take long position on USD/CNY around 6.89, stop loss at 6.88 and target of 6.9210.

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50 %

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48.6 %

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-1541 %

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2016 bln ARS

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January 22 19:00 UTC 827322827322m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 815502815502m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 815502815502m

ARAnnual Primary Balance*

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2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 815502815502m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

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