Weekly Chart USD/CNH: Extending losses

Prices remains under pressure with slide below support at the 6.6700 congestion turning focus to the 6.6500 level.

Daily and weekly studies are deep into oversold area but bearish structure from the 6.9440 March swing high and wedge pattern top keep pressure on the downside. Below the 6.6500 congestion will open up room for further losses to target the 6.6160 low of June 2022 then the 6.6000 figure. Reaction at the latter can be expected as daily and weekly studies extend deep into oversold areas.  

However, bullish divergence continues to build on weekly studies and caution corrective bounce with resistance starting at 6.6700 congestion and extending to 6.6910 September low. Would take lift over this area and 6.7000 level to ease the downside pressure and see room for stronger bounce to resistance at the 6.7200/6.7260 congestion and September high.