USD/CNY Remains Well Supported Below Key Resistance at 6.5525

• Pair is currently trading around 6.5508 levels.
• It made intraday high at 6.5508 and low at 6.5459 levels.
• Today China's Caixin Services Purchasing Managers' Index (PMI) fell from a six-month high of 52.4 in January to 51.2 in February.
• Intraday bias remains neutral for the moment.
• On the top side key resistance falls at 6.57 levels.
• A current rebound from 6.4910 is likely to continue in short term.

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.