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• USD/ CNY steadied on Friday as attention turned to the upcoming U.S. non-farm payrolls report for cues on the Federal Reserve's interest rate path.
•The U.S. January jobs report is due before the Wall Street open, with economists expecting 170,000 nonfarm payroll additions. However, forecasts vary due to potential distortions from cold weather and California wildfires.
• At GMT 12:27,the dollar was down 0.01% at 7.287 against Chinese Yuan.
•Technical signals show the pair could gain more ground as RSI is up at 54, and 5, 11,14 DMA’s are trending north.
• Immediate resistance is located at 7.293 (50%fib), any close above will push the pair towards 7.270(Feb 6th low).
• Support is seen at 7.286(50%fib) and break below could take the pair towards 7.266 (50%fib).
Recommendation: Good to buy around 7.280 with stop loss of 7.240 and target price of 7.300
