PBOC set today's USD/CNY at 6.6375 vs 6.5776, USD/CNY hits its highest level since Jan 2011.
A weaker Chinese industrial profits print released earlier on the day also weighed heavily on the sentiment surrounding the commodity currencies.
The pair finds minor support at 0.74 (20-DMA), break below will drag the pair lower to test at 0.7315.
Momentum studies are , Stochs have rolled over from overbought levels, is biased lower.
Immediate are seen at 0.74 (20-DMA) and 0.4722(100-DMA).
Good to go short on break below 0.74, SL: 0.7445, TP: 0.7330/ 0.7315/ 0.73