Published: 2025-11-04T03:05:27.000Z
Chart USD/CNH Update: Extending bounce from 7.0885 low
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Extending corrective bounce as break above the 7.1160 resistance see room for extension to 7.1325
| 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 | 7.1325 | * | 17 Oct high | S4 | 7.0850 | ** | 17 Sep YTD low |
Asterisk denotes strength of level
03:00 GMT - Extending corrective bounce as break above the 7.1160 resistance see room for extension to 7.1325. Clearance here will open up room for retest of strong resistance at 7.1500/35, congestion and October high. The latter is expected to cap and lower high sought to further pressure the downside later. Meanwhile support is raised to 7.1160 low of August which should underpin. Break here will return focus to the downside and see room to retest the 7.0885/7.0850 lows. Below here will extend losses from the April high and see room to 7.0800, 76.4% Fibonacci level.