Published: 2025-05-19T04:50:25.000Z
Chart USD/CNH Update: Higher in consolidation from 7.1800 support
Technical Analyst
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Pressuring the 7.2155 resistance and break here will see room to extend bounce from the 7.1800 corrective low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3000 | * | congestion | S1 | 7.1790 | ** | 13 May YTD low | |
| R3 | 7.2785 | ** | 14 Apr low, 38.2% | S2 | 7.1650 | * | Oct high | |
| R2 | 7.2500/65 | * | congestion, 29 Apr low | S3 | 7.1500 | * | congestion | |
| R1 | 7.2155 | * | Mar low | S4 | 7.1460 | * | 61.8% Sep/Apr rally |
Asterisk denotes strength of level
05:40 GMT - Pressuring the 7.2155 resistance and break here will see room to extend bounce from the 7.1800 corrective low. Daily studies remains mixed at oversold areas and suggest room for stronger bounce to retrace losses from the 7.4290, April current year high. Clearance will see room to strong resistance at 7.2500/65 area and 7.2785, 14 Apr low and 38.2% Fibonacci level. Meanwhile, support at the 7.2000 level should underpin and sustain corrective bounce from the 7.1800/7.1790 congestion area.