Published: 2025-06-27T03:31:18.000Z
Chart USD/CNH Update: Consolidating at 7.1525, fresh year low
Technical Analyst
1
Break of 7.1615/7.1600 lows has seen extension to fresh year low at 7.1525
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1525 | ** | 26 Jun YTD low | |
| R3 | 7.2200 | ** | congestion | S2 | 7.1460 | * | 61.8% Sep/Arp rally | |
| R2 | 7.2000 | * | 11 Jun high, congestion | S3 | 7.1200 | * | congestion | |
| R1 | 7.1800 | * | 13 May low, congestion | S4 | 7.1000 | ** | congestion |
Asterisk denotes strength of level
05:00 GMT - Break of 7.1615/7.1600 lows has seen extension to fresh year low at 7.1525. Bounce here see prices unwinding oversold intraday and daily studies to consolidation below resistance at the 7.1800 congestion. Break here, if seen, will open up room for stronger corrective bounce to the strong resistance at 7.2000/7.2200 area. Break of the 7.1525 low will extend losses from the 7.4290 April current year high and see room to 7.1460, 61.8% Fibonacci level. Lower still, will see room to support at the 7.1200/7.1000 congestion.