Published: 2026-08-20T02:47:03.000Z
Chart USD/CNH Update: Extending losses
1
Consolidation above 6.7375 has given way to break to reach fresh year low at the 6.7200 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.7800 | ** | 3 Jul low | S1 | 6.7200 | * | congestion | |
| R3 | 6.7630 | * | 21 Jul low | S2 | 6.7000 | ** | 2023 year low | |
| R2 | 6.7540 | ** | Jun low | S3 | 6.6670 | * | 15 Jun 2022 low | |
| R1 | 6.7375 | 17 Aug low | S4 | 6.6500 | * | congestion |
Asterisk denotes strength of level
02:45 GMT - Consolidation above 6.7375 has given way to break to reach fresh year low at the 6.7200 level. Negative daily and weekly studies keep pressure firmly on the downside and lower will see room to extend the bear trend from the April 2025 year high to target the 6.7000, 2023 year low. Bullish divergence on weekly studies suggest scope for corrective bounce from the latter with with resistance starting at 6.7540/6.7630 recent lows. Would need lift over this to open up room for stronger corrective bounce to retrace losses from the 6.8200 high.