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• USD/CNY edged lower on Thursday as yaun firmed ahead of key U.S. inflation data that could shape the Federal Reserve's interest-rate trajectory.
• U.S. inflation readings, including producer prices is due later on Thursday, and on Friday, the last set of key data releases ahead of the FOMC meeting on September 15 to 16..
• The CME FedWatch Tool showed markets pricing in a 60% chance of a U.S. rate increase this month. Higher rates generally make non-yielding assets less attractive to investors.
•On the geopolitical front, Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, in the biggest wave of attacks on shipping by both sides since the start of the six-month-old war..
• Immediate resistance is located at 6.721(SMA20), any close above will push the pair towards 6.732(38.2%fib)
• Support is seen at 6.703(23.6%fib) and break below could take the pair towards 6.697 (Lower BB).
Recommendation: Good to sell around 6.710, with stop loss of 6.740 and target price of 6.680
