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USD/CNY breaks key resistance at 6.4910, good to buy on dips

  • USDCNY is currently trading around 6.4953 levels.
     
  • It made intraday high at 6.4955 and low at 6.4880 levels.
     
  • Intraday bias remains bullish for the moment.
     
  • A sustained break below 6.4910 will tests another support around 6.4525/6.4351 levels.
     
  • Alternatively, reversal from key support 6.4682 will drag the parity back above 6.5128/ 6.5508 marks.

We prefer to take long position in USD/CNY only above 6.4910, stop loss 6.4682 and target 6.5128/ 6.5354 levels.

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