FxWirePro: USD/CNY Remains Wells supported Above 6.49, Intraday Bias Remains Bullish

FxWirePro: USD/CNY Remains Wells supported Above 6.49, Intraday Bias Remains Bullish

26 April 2016, 09:14
Roberto Jacobs
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FxWirePro: USD/CNY Remains Wells supported Above 6.49, Intraday Bias Remains Bullish

  • Pair is currently supported above 6.49 marks and trading around 6.4933 levels. 
  • It made intraday high at 6.5030 and low at 6.4900 levels. 
  • Today PBOC sets Yuan mid-point at 6.4882 / dollar vs last close 6.4945. 
  • Intraday bias remains bullish till the time pair holds key support at 6.4910 levels. 
  • A daily close below 6.4910 will drag the parity down towards key supports at 6.4736/6.4531 levels. 
  • On the other side, a sustained close above 6.5182 will test key resistances at 6.5525 and 6.5708 levels.

We prefer to take long position in USD/CNY around 6.4925, stop loss 6.4910 and target 6.5117 levels.

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



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