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• USD/CNY dipped on Monday as dollar weakened on mounting worries over the growth outlook of the U.S. economy.
• Data on Friday showed U.S. business activity dropped to a 17-month low, signaling growing concern among businesses and consumers over the Trump administration's policies.
• Later this week, China's official NBS February PMIs will be released on Saturday, closely watched for signs of recovery after January's unexpected contraction in manufacturing and a significant slowdown in non-manufacturing PMI.
• At (GMT 10:07) dollar was trading down 0.05% at 7.246 against the Chinese yaun.
• Immediate resistance is located at 7.258(50%fib), any close above will push the pair towards 7.289(61.8%fib).
• Support is seen at 7.228(38.2%fib) and break below could take the pair towards 7.216(Lower BB).
Recommendation: Good to sell around 7.250, with stop loss of 7.280, and target price of 7.215
