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