- USD/CNY is currently trading around 6.7202 marks.
- It made intraday high at 6.7293 and low at 6.7157 levels.
- Intraday bias remains slightly bearish for the moment.
- A sustained close above 6.7208 marks will test key resistances at 6.7298, 6.7422, 6.7510, 6.7778 and 6.8072 marks respectively.
- Alternatively, a daily close below 6.7208 will drag the parity down towards key supports at 6.7028, 6.6963, 6.6849, 6.6650, 6.6540 and
6.62 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- PBOC sets yuan mid-point at 6.7167 / dlr vs last close 6.7240.
- China Feb 2019 house prices yy increase to 10.4 % vs previous 10 %.
We prefer to take short position on USD/CNY around 6.7250, stop loss at 6.7305 and target of 6.7028/6.6849/6.6650.


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