Published: 2025-11-12T05:15:33.000Z
Chart USD/CNH Update: Drifting towards 7.1160 support
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Drifting lower from the 7.1385 high of last week to approach support at 7.1160
| 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 | 7.1385 | 5 Nov high | S4 | 7.0850 | ** | 17 Sep YTD low |
Asterisk denotes strength of level
05:10 GMT - Drifting lower from the 7.1385 high of last week to approach support at 7.1160. Daily studies are unwinding overbought readings and suggest scope for break here to see room to extend losses to the 7.1000 level. Break here will return focus to the 7.0885/7.0850, November/September lows. Meanwhile, resistance at the 7.1385/7.1400 area is expected to cap. Would take break to open up room for retest of strong resistance at the 7.1500/35 congestion and October lower high.