USD/CNY Hovers Around Key Resistance at 6.5195, Intraday Bias Remains Neutral

USD/CNY Hovers Around Key Resistance at 6.5195, Intraday Bias Remains Neutral

28 March 2016, 12:31
Roberto Jacobs
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USD/CNY Hovers Around Key Resistance at 6.5195, Intraday Bias Remains Neutral

  • USD/CNY is currently trading around 6.5162 levels. 
  • It made intraday high at 6.5208 and low at 6.5148 levels. 
  • Intraday bias remains neutral for the moment. 
  • A sustained break above 6.5195 will tests another resistance around 6.5374/6.5580 levels. 
  • Alternatively, reversal from key resistance will drag the parity down around 6.4910/ 6.4682 marks.

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.

The material has been provided by InstaForex Company - www.instaforex.com

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