USD/CNH ST: as long as 7.2308 is support look for 7.4846
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7.2308 is our pivot point.
Our preference: as long as 7.2308 is support look for 7.4846.
Alternative scenario: below 7.2308, expect 7.1363 and 7.0801.
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 trading above both its 20 and 50 period moving average (respectively at 7.2992 and 7.2587).
Supports and resistances:
7.5972 **
7.5409 *
7.4846 **
7.4283
7.3097 last
7.2679
7.2308 **
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