Published: 2026-08-03T03:09:19.000Z
Chart USD/CNH Update: Consolidating, room for lower later
1
Edged off the 6.7422 low as prices consolidate losses last week and unwind overdold intraday and daily studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8000 | * | congestion | S1 | 6.7350 | * | 61.8% 2022/2025 rally | |
| R3 | 6.7800 | ** | 3 Jul low | S2 | 6.7200 | * | congestion | |
| R2 | 6.7630 | * | 21 Jul low | S3 | 6.7000 | ** | 2023 year low | |
| R1 | 6.7540 | ** | Jun low | S4 | 6.6700 | * | congestion, 2019 yr low |
Asterisk denotes strength of level
03:10 GMT - Edged off the 6.7422 low as prices consolidate losses last week and unwind overdold intraday and daily studies. However, pressure remains on the downside and break lower will see room to extend the bear trend from the April 2025 year high. Lower will see scope to target support at 6.7350, 61.8% Fibonacci level, and the 6.7200 congestion. Lower still, will see room to 6.7000, 2023 year low. Meanwhile, resistance is lowered to the 6.7540/6.7630, June and 21 July lows. Thia area now expected to cap and sustain losses from the 6.8200, June swing high.