Weekly Chart USD/CNH: Under pressure, scope to 6.7000 support

Still grinding lower and break of 6.7200 level see prices extending losses from the April 2025 year high to reach fresh year low at 6.7150.

Bearish structure from the 6.9440 March high keep pressure on the downside to extend losses within the broad wedge pattern. Break of the 6.7200 level see room for extension to the 6.7000 figure and the 2023 year low and where reaction can be expected as daily studies extend into oversold areas. Also bullish divergence on weekly studies caution corrective bounce resistance starting at 6.7400 congestion and extending to the 6.7540/6.7630, June and mid-July lows.

Would need lift over these to open up room for stronger gains to retrace losses from th 6.9440 March high towards resistance at 6.8000/6.8200 congestion and June high. Above the latter will see scope to strong resistance at 6.8500, late-April high.