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• USD/ CNY eased from 16 month high on Friday as investors reacted to stronger-than-expected data from China.
• China's economy expanded by 5.4% year-on-year in Q4, surpassing analysts' forecasts, according to official data released on Friday
• . On a quarterly basis, GDP grew 1.6.% in October-December, compared with a forecast 1.6% increase and a revised 1.3% gain in the previous quarter.
• At GMT 09:36,the dollar was trading down 0.02 % at 7.328 against Chinese Yuan.
• Immediate resistance is located at 7.333 (23.6%fib), any close above will push the pair towards 7.347 (Higher BB).
• Support is seen at 7.315(38.2%fib) and break below could take the pair towards 7.302 (50%fib).
Recommendation: Good to buy around 7.325 with stop loss of 7.260 and target price of 7.350
