Published: 2025-11-06T05:15:33.000Z
Chart USD/CNH Update: Room for strong corrective bounce
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Settled back below the 7.1400 level as prices consolidate gains from the 7.0885 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1800 | * | congestion | S1 | 7.1160 | * | Aug low | |
| R3 | 7.1650 | * | congestion | S2 | 7.1000 | * | figure | |
| R2 | 7.1500/35 | ** | congestion, Oct high | S3 | 7.0885 | * | 29 Oct low | |
| R1 | 7.1440 | Jul low | S4 | 7.0850 | ** | 17 Sep YTD low |
Asterisk denotes strength of level
05:10 GMT - Settled back below the 7.1400 level as prices consolidate gains from the 7.0885 low. Overbought daily studies suggest room for pullback to retest support at 7.1160 low of August. Would take break here to return focus to the downside and expose the 7.0885/7.0850, November/September lows to retest. Meanwhile, resistance is at the 7.1400/40 area. Break here will open up room for retest of the 7.1500/35 congestion and October high and where clearance will further retrace the April/September losses.