Published: 2025-04-08T06:26:44.000Z
Chart USD/CNH Update: Consolidating retest of 7.3670/7.2700 highs
Technical Analyst
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Break above the 7.3500 level has seen spike to retest the 7.3670/7.3700, February and December highs
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.4000 | * | figure | S1 | 7.3000 | * | 4 Apr high, congestion | |
| R3 | 7.3750 | ** | Oct 2022 year high | S2 | 7.2850 | * | congestion | |
| R2 | 7.3700 | ** | Dec 2024 year high | S3 | 7.2700 | * | congestion | |
| R1 | 7.3500 | * | 3 Apr high, congestion | S4 | 7.2390 | ** | 4 Apr low |
Asterisk denotes strength of level
06:20 GMT - Break above the 7.3500 level has seen spike to retest the 7.3670/7.3700, February and December highs. Prices has since settled back to trade below the 7.3500 level as prices unwind the overbought intraday studies. However, focus remains on the upside and retest of the 7.3700 high cannot be ruled out. Beyond this will see scope to 7.3750, 2022 year high. Meanwhile, support at the 7.3110/7.3000 area should underpin and sustain gains from the 7.2155, February YTD low. Below this will fade the upside pressure and see room for pullback to support at 7.2850 then the 7.2700/7.2500 congestion.