Published: 2025-12-10T05:06:11.000Z
Chart USD/CNH Update: Under pressure
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Consolidation at the 7.0700 level see prices meeting with fresh selling pressure and see room for retest of the 7.0540 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1200 | ** | congestion | S1 | 7.0500 | * | congestion | |
| R3 | 7.1000 | * | congestion | S2 | 7.0350 | * | congestion | |
| R2 | 7.0800/50 | * | congestion, Sep low | S3 | 7.0000 | ** | figure | |
| R1 | 7.0730 | * | 8 Dec high | S4 | 6.9710 | ** | Sep 2024 year low |
Asterisk denotes strength of level
05:00 GMT - Consolidation at the 7.0700 level see prices meeting with fresh selling pressure and see room for retest of the 7.0540 low. Below this and the 7.0500 level will see room for extension to the 7.0350 congestion area from October 2024. Lower still, will see potential to the 7.0000 figure but focus will turn to the 6.9710, September 2024 year low. Meanwhile, resistance is lowered to the 7.0730 bounce high which is expected to cap. Above here will open up room for stronger corrective bounce to the strong resistance at the 7.0800/50 congestion and September low.