Published: 2025-12-31T12:16:18.000Z
Chart USD/CNH Update: Fresh year lows
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Cautious trade around 7.0000 has given way to the anticipated break
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0730 | * | 8 Dec high | S1 | 6.9710 | ** | Sep 2024 year 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 | ** | figure | S4 | 6.9120 | * | early-May 23 (w) low |
Asterisk denotes strength of level
12:10 GMT - Cautious trade around 7.0000 has given way to the anticipated break, with April losses currently posting fresh 2025 year lows towards support at the 6.9710 year low of September 2024. Both daily and weekly readings are under pressure, highlighting room for continuation lower, with a break beneath here adding weight to sentiment and opening up historic congestion around 6.9500. Extension to the 6.9120 weekly low of early-May 2023 cannnot be ruled out. Meanwhile, resistance is lowered to 7.0000. A close above here, if seen, would help to stabilise price action and prompt consolidation beneath congestion around 7.0300.