Published: 2025-01-13T06:43:53.000Z
Chart USD/CNH Update: Consolidating below 7.3680/7.3700 highs
Technical Analyst
1
Little change, as prices extend consolidation within a narrow range below strong resistance at the 7.3680/7.3700 highs
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.4000 | * | figure | S1 | 7.3270 | * | 19 Dec high | |
| R3 | 7.3750 | ** | 2022 year high | S2 | 7.3110 | ** | Jul 2024 high | |
| R2 | 7.3700 | ** | 2024 year high | S3 | 7.3000 | * | congestion | |
| R1 | 7.3680 | * | 2023 year high | S4 | 7.2850 | * | 23 Dec low |
Asterisk denotes strength of level
06:40 GMT - Little change, as prices extend consolidation within a narrow range below strong resistance at the 7.3680/7.3700 highs. The ascending triangle suggest scope for break here to further extend strong gains from the September low and see room for retest of the 7.3750 year high of 2022. Break here, if seen, will see room for extension to the 7.4000 figure. Meanwhile, support is raised to 7.3270 the 19 December high which should underpin. Break below this will see room for deeper pullback to the strong support at the 7.3110/7.3000 area.