Published: 2026-02-04T02:58:44.000Z
Chart USD/CNH Update: Extending losses
1
Under pressure as break to fresh low through the 6.9315 January low extend the broader losses from the April 2025 high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0000 | * | figure | S1 | 6.9200 | * | congestion | |
| R3 | 6.9710 | * | Sep 2024 year low | S2 | 6.9000 | ** | congestion | |
| R2 | 6.9632 | * | 2 Feb high | S3 | 6.8700 | * | 76.4% 2023/2025 rally | |
| R1 | 6.9500 | * | congestion | S4 | 6.8600 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Under pressure as break to fresh low through the 6.9315 January low extend the broader losses from the April 2025 high. However, bearish momentum slows as prices extend into oversold areas. Lower see room to the 6.9200 congestion then the 6.9000 level. Further out, will see room to the 6.8700, 76.4% Fibonacci level. Meanwhile, resistance is lowered to the 6.9500 congestion and this extend to 6.9632 Monday's high. This area now expected to cap and see break here needed to ease the bearish pressure and see room for stronger corrective bounce.