Weekly Chart USD/CNH: Extending losses

Break of the 6.6910 September low see prices extending losses from the 7.4290 April 2025 year high to approach support at 6.6700 congestion.

Daily studies are oversold but the broad bearish structure from the 6.9440 March swing high keep pressure on the downside and see room to extend losses within the wedge pattern. Lower will see room to the 6.6500 congestion where reaction can be expected. Below here will open up room to the 6.6160 low of June 2022 and the 6.6000 figure.  

However, bullish divergence remains on weekly studies and caution corrective bounce with resistance starting at 6.6910 September low and extending to 6.7000 figure. Would take lift over this area to ease the downside pressure and see room for stronger gains to resistance at the 6.7200/6.7250 congestion and September high. Gains above the latter, if seen, will see scope towards 6.7500 congestion.