• FxWirePro: Chinese Yuan appreciates after GDP, industrial production

    来源: FxWire Pro - Technicals / 16 一月 2020 23:55:22   America/New_York

    • USD/CNY is currently trading around 6.8702 marks.
       
    • It made intraday high at 6.8788 and low at 6.8669 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 6.8835 mark.
       
    • A sustained close above 6.8923 marks will test key resistances at 6.9050, 6.9268, 6.9540, 6.97, 6.9867, 6.9957, 7.0168, 7.0388, 7.07 and 7.0920 marks respectively.
       
    • Alternatively, a daily close below 6.8768 will drag the parity down towards key supports at 6.8658, 6.84 and 6.8222 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • China’s GDP remains unchanged at 6.0 pct.
       
    • China’s retail sales data remains unchanged at 8.0 pct.
       
    • China’s unemployment rate stands at 5.2 pct vs 5.1 pct previous release.
       
    • China’s industrial production stands at 6.9 pct vs 6.2 pct previous release (expected 5.9).

    We prefer to take short position on USD/CNY around 6.8730, stop loss at 6.8920 and target of 6.84.

分享