Published: 2025-09-11T04:14:09.000Z
Chart USD/CNH Update: Consolidating, but still heavy
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Little change, as prices holds a narrow range around the 7.1200 level having edged off the 7.1130 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1200 | * | congestion, trendline | |
| R3 | 7.1500 | ** | congestion | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1440 | * | Jul low | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1350 | congestion | S4 | 7.0800 | * | 76.4% Sep/Apr rally |
Asterisk denotes strength of level
04:10 GMT - Little change, as prices holds a narrow range around the 7.1200 level having edged off the 7.1130 low to consolidate pullback from the 7.1440/7.1500 resistance. However, daily and weekly studies are still tracking lower and suggest scope to extend losses from the 7.4290, April current year high. Lower will see room to strong support at the 7.1000 congestion and the 7.0800, 76.4% Fibonacci level. Meanwhile, resistance is lowered to 1.1350 congestion which is expected to cap and sustain rejection from the 7.1440/7.1500 area.