USD/CNH may rise 209 - 305 pips

Our pivot point stands at 7.1259.

Our preference

As long as 7.1259 is support look for 7.1703.

Alternative scenario

Below 7.1259, expect 7.1098 and 7.1001.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (7.1401) but above its 50 period moving average (7.1377).

Supports and resistances

7.1896 **

7.1799 *

7.1703 **

7.1607

7.1398 last

7.1323

7.1259 **

7.1098 *

7.1001 **

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