Published: 2026-01-19T04:54:51.000Z
Chart USD/CNH Update: Extending losses
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Prices remains under pressure as break of the 6.9710 support gives way to drift lower to extend losses from the 7.4290 April high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0500/40 | ** | congestion, 3 Dec low | S1 | 6.9500 | * | congestion | |
| R3 | 7.0300 | * | congestion | S2 | 6.9300 | * | congestion | |
| R2 | 6.9960/00 | ** | 8 Jan high, congestion | S3 | 6.9000 | ** | congestion | |
| R1 | 6.9710 | Sep 2024 year low | S4 | 6.8700 | * | 76.4% 2023/2025 rally |
Asterisk denotes strength of level
04:50 GMT - Prices remains under pressure as break of the 6.9710 support gives way to drift lower to extend losses from the 7.4290 April high. Lower will see room for extension to support at the 6.9500/6.9300 congestion area. Below this will see potential to target the 6.9000 level. Meanwhile, resistance is lowered to the 2024 year low at 6.9710 and extending to the 6.9960, 8 January bounce high. Would need to regain these and the 7.0000 level to ease the downside pressure and open up room for stronger corrective bounce to retrace losses from the October swing high.