Published: 2025-09-19T05:29:25.000Z
Chart USD/CNH Update: Turned up in consolidation from 7.0870 support
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Turned up from the 7.0870 support as prices consolidate losses from the 7.2200 August high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1500 | ** | congestion | S1 | 7.0870 | * | Nov 2024 low | |
| R3 | 7.1440 | * | Jul low | S2 | 7.0800 | * | 76.4% Sep 2024/Apr rally | |
| R2 | 7.1300 | * | congestion | S3 | 7.0500 | * | congestion | |
| R1 | 7.1160 | * | Aug low | S4 | 7.0000 | ** | figure, congestion |
Asterisk denotes strength of level
05:30 GMT - Turned up from the 7.0870 support as prices consolidate losses from the 7.2200 August high and unwind oversold daily studies. Resistance is at the 7.1160 August low and regaining this will open up room for stronger correction to the 7.1300 congestion. Higher still see strong resistance at the 7.1440/7.1500 July lows which is expected to cap corrective bounce and give way to renewed selling pressure later. Break of the 7.0870 low will see room for extension to the 7.0800, 76.4% Fibonacci level, then 7.0500 congestion.