USD/CNH may rise 207 - 303 pips

7.1207 is our pivot point.

Our preference

As long as 7.1207 is support look for 7.1643.

Alternative scenario

Below 7.1207, expect 7.1045 and 7.0949.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (7.1352) but above its 50 period moving average (7.1290).

Supports and resistances

7.1835 **

7.1739 *

7.1643 **

7.1547

7.1340 last

7.1270

7.1207 **

7.1045 *

7.0949 **

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