Goldman Sachs on the yuan again, and on 7 again

On Monday Goldman Sachs outlined their their expectation of a 7 for USD/CNY within six months

Post is here

• Goldman Sachs on the yuan, the PBOC, and 7

This their latest (in brief), a bit of a rethink

Watch for 7/7.005 for a potential top

• A turn from there
• but GS bullish if USD/CNY breaks through 7.005

If USD/CNY falls under 6.90 there is greater risk of extended falls

• On downside, support 6.90
• If 6.90 fails, opens drop to 6.7880 to 6.74