USD/CNH may rise 101 - 149 pips

Our pivot point is at 7.2627.

Our preference

The upside prevails as long as 7.2627 is support.

Alternative scenario

Below 7.2627, expect 7.2547 and 7.2498.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 7.2668 and 7.2660).

Supports and resistances

7.2946 **

7.2898 *

7.2850 **

7.2802

7.2701 last

7.2659

7.2627 **

7.2547 *

7.2498 **

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