USD/CNH may rise 180 - 266 pips

7.1327 is our pivot point.

Our preference

The upside prevails as long as 7.1327 is support.

Alternative scenario

Below 7.1327, expect 7.1183 and 7.1098.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.1392 and 7.1440).

Supports and resistances

7.1891 **

7.1805 *

7.1720 **

7.1634

7.1454 last

7.1384

7.1327 **

7.1183 *

7.1098 **

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