USD/CNH may rise 102 - 135 pips

Our pivot point is at 7.1643.

Our preference

Rebound towards 7.1826.

Alternative scenario

Below 7.1643, expect 7.1587 and 7.1553.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 7.1701 and 7.1751).

Supports and resistances

7.1894 **

7.1860 *

7.1826 **

7.1793

7.1691 last

7.1666

7.1643 **

7.1587 *

7.1553 **

Number of asterisks represents the strength of support and resistance levels.