2016.05.2302:50:00UTC+00Fxwirepro: Chinese Yuan Remains supported Just Below 6.5510, a Break Above Targets 6.57

• USD/CNY is currently trading around 6.5482 marks.
   
• It made intraday high at 6.5499 and low at 6.5475 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 6.5510 levels.
   
• A sustained close above 6.5510 marks will test key resistances at 6.5525(March 02, 2016 high) and 6.5708(50D EMA) levels respectively.
   
• Alternatively, a daily close below 6.5369 will drag the parity down towards key supports at 6.5758, 6.4910, 6.4721, 6.4531 levels.
   
• In addition, 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend.
   
• Today PBOC sets Yuan mid-point at 6.5455 / dlr vs last close 6.5493.

We prefer to take long position in USD/CNY only above 6.5510, stop loss 6.5406 and target 6.5708 levels.