2012.05.07 04:15:41 MARKET TALK: USD/CNY Higher Early; 6.3150 Resistance Tipped

0215 GMT [Dow Jones] The USD/CNY is higher early, tracking a higher fixing and amid a weaker euro following elections in France and Greece. The pair is at 6.3121 vs 6.3062 late Friday, and is tipped to face resistance around 6.3150. The PBOC set the fixing at 6.2858, up from 6.2721 Friday. "The higher central parity Monday is guiding more transaction volume, and the weak euro is also having an impact on the pair. But it's hard to say how much more the fall in the euro will impact trading later Monday," says a Shanghai-based local bank trader. Offshore, one-year USD/CNY NDFs are up at 6.3515/6.3555 from 6.3440/6.3480 late Friday. (esther.fung@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires May 06, 2012 22:15 ET (02:15 GMT)