FxWirePro: USD/CNY dips as China’s yuan strengthens on Iran war de escalation hopes

• USD/ CNY dipped  on Tuesday   as expectations of a near-term end to the Middle East war reduced the greenback's appeal.

• U.S. President Donald Trump said that Washington could end its military attacks on Iran within the next two to three weeks, and that Tehran would not need to agree to a deal beforehand for the conflict to wind down.  

• The White House said U.S. President Donald Trump would address the nation "to provide an important update on Iran" at 9 p.m. EDT on Wednesday (0100 GMT on Thursday).

• This week's main U.S. economic focus will be Friday's jobs report for March. It is expected to show that employers added 60,000 jobs during the month.

•  Immediate resistance is located at 6.891(SMA 20), any close above will push the pair towards 6.915(50%fib).

• Support is seen at 6.878(38.2%fib) and break below could take the pair towards 6.863 (Lower BB).

Recommendation: Good to sell  around 6.890 with stop loss of 6.930 and target price of 6.870