USD/CNY Hovers Around 6.5100 Mark, Intraday Bias Remains Neutral

USD/CNY Hovers Around 6.5100 Mark, Intraday Bias Remains Neutral

29 March 2016, 11:23
Roberto Jacobs
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USD/CNY Hovers Around 6.5100 Mark, Intraday Bias Remains Neutral

  • USD/CNY is currently trading around 6.5097 levels. 
  • It made intraday high at 6.5153 and low at 6.5050 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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