USD/CNH may rise to 7.2180 - 7.2851

6.9594 is our pivot point.

Our preference

Rebound towards 7.2851.

Alternative scenario

Below 6.9594, expect 6.8474 and 6.7807.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (7.0568) but below its 50 period moving average (7.1068).

Supports and resistances

7.4191 **

7.3521 *

7.2851 **

7.2180

7.0684 last

7.0035

6.9594 **

6.8474 *

6.7807 **

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