- USD/CNY is currently trading around 6.5146.
- It made intraday high at 6.5156 and low and 6.5127 levels.
- Intraday bias remains neutral for the moment.
- Today China’s inflation figure also surprised the market with the CPI rising 2.3% year-on-years in February vs 1.8% previous release.
- A daily close below 6.5040 will take the parity towards key support at 6.4910/ 6.4737 marks.
- Alternatively, reversal will take the parity around 6.55/ 6.5758 levels thereafter.Trading call: Go long on USD/CNY around 6.51, stop loss 6.4910 and target 6.5758 levels.
The material has been provided by InstaForex Company – www.instaforex.com