FxWirePro: USD/CNY back above 6.94 mark, PBOC sets yuan mid-point at 6.9338

• USD/CNY is currently trading around 6.9405 marks.
   
• It made intraday high at 6.9445 and 1low at 6.9338 levels.
   
• Intraday bias remains slightly bullish for the moment.
   
• A sustained close above 6.9450 marks will test key resistances at 6.9525, 6.9620 and 6.9850 marks respectively.
   
• Alternatively, a daily close below 6.9450 will drag the parity down towards key supports at 6.9210, 6.8898, 6.8670, 6.8420, 6.8215, 6.7980, 6.7864, 6.7624, 6.7510 and 6.7160 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 6.9338 / dlr vs last close 6.9444.

We prefer to take long position on USD/CNY only above 6.9450, stop loss 6.9210 and target of 6.9620/6.9748.