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USD/CNH ST: as long as 7.2017 is support look for 7.3689
2024-04-23
1009
7.2017 is our pivot point.
Our preference: as long as 7.2017 is support look for 7.3689.
Alternative scenario: the downside breakout of 7.2017 would call for 7.1410 and 7.1048.
Comment: the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 7.2522 and 7.2270).
Supports and resistances:
7.4414 **
7.4051 *
7.3689 **
7.3327
7.2597 last
7.2256
7.2017 **
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