Published: 2026-01-09T04:39:21.000Z
Chart USD/CNH Update: Extend consolidation above 6.9663 low
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Bounce from the 6.9663 low see prices consolidating losses from the October swing high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0730 | * | 8 Dec high | S1 | 6.9663 | ** | 2 Jan low | |
| R3 | 7.0500/40 | ** | congestion, 3 Dec low | S2 | 6.9645 | * | 2 May 2023 high | |
| R2 | 7.0300 | * | congestion | S3 | 6.9500 | * | congestion | |
| R1 | 7.0000 | * | congestion | S4 | 6.9300 | * | congestion |
Asterisk denotes strength of level
04:30 GMT - Bounce from the 6.9663 low see prices consolidating losses from the October swing high to unwind oversold daily studies. Weekly studies are stretched as well and suggest room for corrective bounce to resistance at the 7.0000 figure. Above here will open up room for stronger gains to the 7.0300/7.0540 resistance area. However, corrective gains are expected to give way to selling pressure later. Break of the 6.9710 and 6.9663 lows will further extend losses from the 7.4290, April 2025 year high, to support at the 6.9645/6.9500 area.