The USDCNY is approaching the previous max pain level around 7.37 where the PBoC intervened in 2023 so worth keeping that level marked up.
The PBoC continuously adjusted the mid-point weaker in recent sessions with yesterday seeing the weakest setting since Nov 2023.
![USDCNY not too far from previous max pain level for the PBoC](https://images.forexlive.com/images/USDCNY%20not%20too%20far%20from%20previous%20max%20pain%20level%20for%20the%20PBoC_id_4beccf62-ae65-44f3-952d-17ba4b909299_size900.jpg)
USDCNY not too far from previous max pain level for the PBoC