USD/CNH may rise to 7.3342 - 7.3720

7.1984 is our pivot point.

Our preference

The upside prevails as long as 7.1984 is support.

Alternative scenario

Below 7.1984, expect 7.1350 and 7.0973.

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 7.2446 and 7.2456).

Supports and resistances

7.4475 **

7.4097 *

7.3720 **

7.3342

7.2552 last

7.2233

7.1984 **

7.1350 *

7.0973 **

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