Published: 2025-07-01T04:00:37.000Z
Chart USD/CNH Update: Under pressure, but stretched
Technical Analyst
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Pressure remains on the downside with losses reaching fresh low at the 7.1500 congestion
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1500 | * | congestion | |
| R3 | 7.2200 | ** | congestion | S2 | 7.1460 | * | 61.8% Sep/Arp rally | |
| R2 | 7.2000 | * | 11 Jun high, congestion | S3 | 7.1200 | * | congestion | |
| R1 | 7.1800 | * | 13 May low, congestion | S4 | 7.1000 | ** | congestion |
Asterisk denotes strength of level
04:00 GMT - Pressure remains on the downside with losses reaching fresh low at the 7.1500 congestion. Oversold intraday and daily studies see bearish momentum fading but further losses not ruled out. Lower will see room to extend the April losses to target 7.1460, 61.8% Fibonacci level. Break here will see room for extension to support at the 7.1200/7.1000 congestion. Meanwhile, resistance at the 7.1800 congestion is expected to cap. Above here, if seen, will open up room for stronger corrective bounce to the strong resistance at 7.2000/7.2200 area.