Weekly Chart USD/CNH: Under pressure

Prices remains under pressure following break of the 6.6910 September low to extend losses from the 7.4290 April 2025 year high towards support at the 6.6700 congestion.

Daily and weekly studies are deep into oversold area but bearish structure from the 6.9440 March swing high keep pressure on the downside and see room for further losses within the wedge pattern. Lower will see room to the 6.6500 congestion where reaction can be expected. Failure here will open up room for extension to the 6.6160 low of June 2022 and the 6.6000 figure.  

However, bullish divergence continues to build on weekly studies and caution corrective bounce with resistance starting at 6.6910 September low and extending to 6.7000 figure. Would take lift over this area to ease the downside pressure and see room for stronger gains to resistance at the 6.7200/6.7250 congestion and September high.