USD/CNH intraday : target 7.0579

Our pivot point is at 7.0736.

Our preference: target 7.0579

Alternative scenario: above 7.0736, look for 7.0792 and 7.0825.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (7.0694) but above its 50 period moving average (7.0680).

Supports and resistances:

7.0825 **

7.0792 *

7.0736 **

7.0714

7.0681 last

7.0612

7.0579 **