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- USD/CNY is currently trading around 6.7224 marks.
- It made intraday high at 6.7289 and low at 6.7217 levels.
- Intraday bias remains neutral till the time pair holds key support at 6.7149 mark.
- A sustained close above 6.7275 marks will test key resistances at 6.7373, 6.7486, 6.7529, 6.7668, 6.7757, 6.7842, 6.8009 and 6.8122 marks respectively.
- Alternatively, a daily close below 6.7149 will drag the parity down towards key supports at 6.7118, 6.7011 and 6.6826 marks respectively.
- PBOC sets yuan mid-point at 6.7228/ dlr vs last close 6.7295.
We prefer to take long position in USD/CNY only above 6.7302, stop loss at 6.7149 and target of 6.7486.
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