Published: 2025-03-17T05:55:26.000Z
Chart USD/CNH Update: Extend consolidation above 7.2260/7.2175 support
Technical Analyst
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Little change, as prices extend consolidation above the 7.2260/7.2175 February low and 38.2% Fibonacci level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3070 | ** | 3 Mar high | S1 | 7.2260 | * | Feb low | |
| R3 | 7.2850 | * | congestion | S2 | 7.2175 | * | 38.2% Sep/Dec rally | |
| R2 | 7.2700 | * | 10 Mar high | S3 | 7.2000 | * | congestion | |
| R1 | 7.2500 | * | congestion | S4 | 7.1860 | * | 11 Nov low |
Asterisk denotes strength of level
05:50 GMT - Little change, as prices extend consolidation above the 7.2260/7.2175 February low and 38.2% Fibonacci level. Prices are unwinding the oversold intraday studies and bounce here see resistance at the 7.2500/7.2700 congestion expected to cap. Consolidation here is expected to give way to selling pressure later and break of the 7.2175 Fibonacci level will open up room for deeper pullback to retrace the September/December rally to the 7.2000 congestion. Lower still, will see room to 7.1860 and 7.1705, 50% Fibonacci level.