• USD/CNY edged higher on Monday as China's yuan weakened slightly after data showed China factory growth slowed in July. • China's manufacturing sector grew at its slowest pace in four months in July as output and new orders lost momentum, though export orders returned to growth after two months of contraction, a private survey showed on Monday. • The RatingDog China General Manufacturing PMI, compiled by S&P Global, fell to 50.9 in July from 51.7 in June, below market expectations of 51.5..• Prior to the market opening, the People's Bank of China set the midpoint rate at 6.7898 per dollar, 534 pips weaker than a Reuters estimate. • Immediate resistance is located at 6.771(SMA 20), any close above will push the pair towards 6.781(38.2%fib)• Support is seen at 6.749(23.6%fib) and break below could take the pair towards 6.740 (Lower BB). Recommendation: Good to sell around 6.755, with stop loss of 6.780 and target price of 6.740