21.02.201701:54:00UTC+00Fxwirepro: Usd/cny Breaks Key Resistance at 6.8709, Stay Bullish

• USD/CNY is currently trading around 6.8811 marks.
   
• It made intraday high at 6.8860 and low at 6.8733 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 6.8639 mark.
   
• A sustained close above 6.8760 marks will test key resistances at 6.8916, 6.9080, 6.9162, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.
   
• Alternatively, a daily close below 6.8760 will drag the parity down towards key supports at 6.8639, 6.8510, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.
   
• PBOC sets Yuan mid-point at 6.8790/dollar vs last close 6.8750.                                                 

We prefer to take long position in USD/CNY around 6.8770, stop loss at 6.8639 and target of 6.9080.