- USD/CNY is currently trading around 6.6283 marks.
- It made intraday high at 6.6336 and low at 6.6233 levels.
- Intraday bias remains neutral for the moment.
- On the top side, a sustained close above 6.6423 mark will test key resistances at 6.6510, 6.6876, 6.7017, 6.7583 and 6.8158 marks respectively.
- Alternatively, a daily close below 6.6150 will drag the parity down towards key supports at 6.6110, 6.6042, 6.5930, 6.5710, 6.5510 (20D EMA), 6.5369, 6.5758, 6.4910, 6.4721 and 6.4531 levels.
- PBOC sets Yuan mid-point at 6.6195/ dollar vs last close 6.6299.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
