USD/CNH may rise 177 - 263 pips

7.1145 is our pivot point.

Our preference

The upside prevails as long as 7.1145 is support.

Alternative scenario

Below 7.1145, expect 7.1002 and 7.0916.

Comment

The RSI is above its neutrality area at 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 7.1264 and 7.1234).

Supports and resistances

7.1722 **

7.1636 *

7.1551 **

7.1465

7.1288 last

7.1202

7.1145 **

7.1002 *

7.0916 **

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