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FxWirePro: USD/CNY hovers around 7.09 mark, sustained close above 7.1095 requires for upside rally

Monday, March 30, 2020 9:25 AM UTC

USD/CNY is currently trading around 7.0913 marks.
It made intraday high at 7.1022 and low at 7.0862 levels.
Intraday bias remains neutral till the time pair holds key resistance at 7.1095 mark.
A sustained close above 7.1095 marks will test key resistances at 7.1142, 7.1303 and 7.1515 marks respectively.
Alternatively, a daily close below 7.0611 will drag the parity down towards key supports at 7.0459, 7.0285, 7.01, 7.0076, 6.9857 and 6.9510 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position in USD/CNY only above 7.1022, stop loss at 7.08 and target of 7.1303/7.1515.

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FxWirePro: USD/CNY hovers around 7.09 mark, sustained close above 7.1095 requires for upside rally

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