FXStreet reports that economists at Société Générale discuss USD/CNY prospects.

“The high inverse correlation between USD/CNY and HK Tech index suggest that a return below 6,000 for the equity index would give USD/CNY a greater chance of settling above 6.50, barring PBoC intervention. USD/CNY crossed above the daily Ichimoku cloud recently and is now defending it. This denotes a short-term bounce is likely towards July high at 6.5300.” “Graphical levels of 6.4460 should cushion downside.”