Published: 2026-05-29T15:30:52.000Z
Chart USD/CNH Update: Fresh year low
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Cautious trade is giving way to fresh selling interest
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8500 | ** | 29 Apr high, congestion | S1 | 6.7500 | * | congestion | |
| R3 | 6.8200/70 | ** | congestion, Feb low | S2 | 6.7350 | ** | 61.8% ret of 2022-2025 rally | |
| R2 | 6.8000 | * | congestion | S3 | 6.7200 | * | congestion | |
| R1 | 6.7800 | * | break level | S4 | 6.7050 | * | February 2023 low |
Asterisk denotes strength of level
16:15 BST - Cautious trade is giving way to fresh selling interest, with prices currently trading around the 6.7615 fresh year low. Daily readings are bearish and the weekly Tension Indicator is turning down, highlighting room for still deeper losses in the coming sessions. April 2025 losses are now focused on historic congestion around 6.7500. Just lower is the 6.7350 Fibonacci retracement, but flat weekly stochastics could limit any initial tests in short-covering/consolidation. Meanwhile, resistance is lowered to 6.7800. A close above here, if seen, would help to stabilise price action and prompt consolidation beneath congestion around 6.8000.