USD/CNH intraday: rebound

Our pivot point is at 7.1762.

Our preference: rebound.

Alternative scenario: below 7.1762, expect 7.1642 and 7.1571.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (7.1863) but below its 50 period moving average (7.1878).

Supports and resistances:

7.2237 **

7.2166 *

7.2095 **

7.2023

7.1870 last

7.1809

7.1762 **