• USD/ CNY traded in tight range on Thursday after as PBOC set the currency fixing weaker after the greenback's rebound from a four-year low. • The central bank has steadily raised its daily yuan fixing, though at weaker-than-market levels, signaling tolerance for some appreciation while discouraging one-way bullish bets. • Immediate resistance is located at 6.967 (SMA 20), any close above will push the pair towards 7.000(Psychological level). • Support is seen at 6.944 (23.6%fib) and break below could take the pair towards 6.935 (Lower BB). Recommendation: Good to sell around 6.940 with stop loss of 6.970 and target price of 6.930