Published: 2025-07-14T03:33:09.000Z
Chart USD/CNH Update: Room for deeper pullback from 7.1880 high
Technical Analyst
1
Under pressure, as prices extend pullback from the 7.1880 high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1615 | * | May low | |
| R3 | 7.2200 | ** | congestion | S2 | 7.1500 | ** | 1 Jul YTD low | |
| R2 | 7.2000 | * | 11 Jun high, congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.1880 | * | 9 Jul high | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Under pressure, as prices extend pullback from the 7.1880 high. Daily studies have turned lower to unwind overbought readings and threatens retest of the May low at 7.1615. Below this will expose the 7.1500 current year low to retest and extend losses from the april high. Lower will see room to target 7.1460, 61.8% Fibonacci level. Meanwhile, resistance is lower to the 7.1800/7.1880 area which is expected to cap. Clearance, if seen, will open up room for stronger correction of the April losses to the 7.2000 level and strong resistance at 7.2200.