Published: 2025-12-19T03:21:19.000Z
Chart USD/CNH Update: Weighing on 7.0310 YTD low
1
Steadied at the 7.0310 current year low but pressure remains on the downside
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1000 | * | congestion | S1 | 7.0310 | ** | 18 Dec YTD low | |
| R3 | 7.0850 | ** | congestion, Sep low | S2 | 7.0000 | ** | figure | |
| R2 | 7.0730 | * | 8 Dec high | S3 | 6.9710 | ** | Sep 2024 year low | |
| R1 | 7.0500/40 | * | congestion, 3 Dec low | S4 | 6.9500 | * | congestion |
Asterisk denotes strength of level
03:20 GMT - Steadied at the 7.0310 current year low but pressure remains on the downside. However, stretched daily studies suggest scope for bounce to correct recent steep drop from the November high. Bounce see resistance at the 7.0500/7.0540, congestion and 3rd Decmeber low. Clearance here will see room for stronger corrective bounce to resistance at 7.0730 then the 7.0850/7.1000, September low and congestion area. Correction is expected to give way to renewed selling pressure later to extend losses from the April YTD high. Lower will see potential to the 7.0000 figure but focus will turn to the 6.9710, September 2024 year low.