I can confirm that is an oil dipstick. Here is my post from October where I found it by accident. The 645Ci guys have the traditional large red ring on the end of the stick.
There is not one! You must remove a plug on the passenger side of the tranny, just above the tranny pan. You then stick your finger in the hole, to determine the correct level. The fluid should be just below the top level, where the plug screws in.
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