USD/CNH may rise 184 - 270 pips

Our pivot point stands at 7.1688.

Our preference

As long as 7.1688 is support look for 7.2080.

Alternative scenario

Below 7.1688, expect 7.1543 and 7.1457.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 7.1734 and 7.1601).

Supports and resistances

7.2252 **

7.2166 *

7.2080 **

7.1994

7.1810 last

7.1745

7.1688 **

7.1543 *

7.1457 **

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