FxWirePro: USD/CNY edges up as yuan weakens on firmer dollar

• USD/CNY edged higher  on Thursday  as the greenback strengthened on uncertainty about ceasefire negotiations for the war in Iran.  

•The dollar's six-currency index  was 0.046% higher at 99.67  , having jumped 2% this month as the Iran war triggered a rush for haven assets.

• Iran's foreign minister on Wednesday said the country is reviewing a U.S. proposal to end the war, but it has ​no intention of holding talks to wind down the widening Middle East conflict.

• The yuan has held steady this month even as some other Asian currencies dropped to fresh lows versus the dollar due to concerns about rising energy costs..

•  Immediate resistance is located at 6.905(50%fib), any close above will push the pair towards 6.914(Higher BB).

• Support is seen at 6.887(SMA 20) and break below could take the pair towards 6.872 (38.2%fib).

Recommendation: Good to sell around  6.900 with stop loss of 6.920 and target price of 6.850