Published: 2025-12-05T03:00:29.000Z
Chart USD/CNH Update: Higher in consolidation above 7.0500
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Edged up in consolidation from the 7.0540 low as prices unwind oversold intraday and daily studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1385 | * | 5 Nov high | S1 | 7.0500 | * | congestion | |
| R3 | 7.1200 | ** | congestion | S2 | 7.0350 | * | congestion | |
| R2 | 7.1000 | * | congestion | S3 | 7.0000 | ** | figure | |
| R1 | 7.0800/50 | * | congestion, Sep low | S4 | 6.9710 | ** | Sep 2024 year low |
Asterisk denotes strength of level
03:00 GMT - Edged up in consolidation from the 7.0540 low as prices unwind oversold intraday and daily studies. Bounce see resistance at the 1.0800/50 congestion and September low now expected to cap. Clearance here, if seen, will delay bears and open up room for stronger bounce to strong resistance at the 7.1200 level. Corrective bounce is expected to give way to fresh selling pressure later. Below the 7.0540 low and will see room for extension to 7.0500/7.0350 congestion area from October 2024. Break here will see potential to the 7.0000 figure though focus will turn to the 6.9710, September 2024 year low.