USD/CNH may rise 206 - 292 pips

Our pivot point is at 7.1595.

Our preference

Rebound towards 7.2002.

Alternative scenario

Below 7.1595, expect 7.1451 and 7.1365.

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 above its 20 period moving average (7.1707) but below its 50 period moving average (7.1755).

Supports and resistances

7.2174 **

7.2088 *

7.2002 **

7.1916

7.1710 last

7.1652

7.1595 **

7.1451 *

7.1365 **

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