Published: 2026-03-05T04:49:17.000Z
Chart USD/CNH Update: Lower in consolidation
-
Settled back from test of strong resistance at the 6.9300/6.9500 congestion
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9700 | * | 2024 year low | S1 | 6.8810 | ** | 16 Feb low | |
| R3 | 6.9500 | * | congestion | S2 | 6.8810 | ** | 16 Feb low | |
| R2 | 6.9300 | ** | Jan low, congestion | S3 | 6.8500 | * | congestion | |
| R1 | 6.9000 | * | congestion | S4 | 6.8270 | ** | 26 Feb YTD low |
Asterisk denotes strength of level
04:50 GMT - Settled back from test of strong resistance at the 6.9300/6.9500 congestion as prices unwind overbought intraday studies. Positive daily and weekly studies suggest room for further gains later to the 6.9500 level and where break will see room to extend corrective gains to retrace losses from the October swing high. Higher will scope to resistance at 6.9700 and 7.0000 figure. Meanwhile, support remains at the 6.9000/6.8810 area which should underpin. Only below this will fade the upside pressure and return focus to the downside.