Published: 2025-09-05T03:07:52.000Z
Chart USD/CNH Update: Leaning lower from the 7.1440/7.1500 resistance
Technical Analyst
-
Corrective bounce from the 7.1200 low has seen gains checked at 7.1440/7.1500, July lows
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1200 | * | congestion, trendline | |
| R3 | 7.1615 | * | May low | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1500 | ** | congestion | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1440 | * | July low | S4 | 7.0800 | * | 76.4% 2024/Apr rally |
Asterisk denotes strength of level
03:00 GMT - Corrective bounce from the 7.1200 low has seen gains checked at 7.1440/7.1500, July lows. Daily studies have return to the downside and see pressure returning to the downside for retest of the 7.1200 support. Break here will further extend losses from the April current year high to support at the 7.1000 congestion. Lower still will see room to the 7.0800, 76.4% Fibonacci level. eanwhile, resistance at the 7.1440/7.1500 area is expected to cap and sustain losses from the August swing high at 7.2240.