USD/CNH may rise 201 - 293 pips

Our pivot point is at 7.1255.

Our preference

As long as 7.1255 is support look for 7.1673.

Alternative scenario

Below 7.1255, expect 7.1101 and 7.1009.

Comment

The RSI is above 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 7.1372 and 7.1360).

Supports and resistances

7.1857 **

7.1765 *

7.1673 **

7.1581

7.1380 last

7.1316

7.1255 **

7.1101 *

7.1009 **

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