Published: 2025-04-22T16:39:11.000Z
Chart USD/CNH Update: Extending cautious trade
Senior Technical Strategist
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Little change, as mixed intraday studies and flat oversold daily stochastics keep near-term sentiment cautious
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3800 | * | congestion | S1 | 7.3000 | * | congestion | |
| R3 | 7.3700/50 | ** | 2024/2022 year highs | S2 | 7.2765 | * | 14 Apr (w) low | |
| R2 | 7.3500 | * | congestion | S3 | 7.2500 | * | congestion | |
| R1 | 7.3365 | * | 8 Apr low | S4 | 7.2155 | ** | 12 Mar YTD low |
Asterisk denotes strength of level
17:25 BST - Little change, as mixed intraday studies and flat oversold daily stochastics keep near-term sentiment cautious and prompt consolidation above congestion support at 7.3000. The daily Tension Indicator is bearish, highlighting room for a break beneath here towards the 7.2765 weekly low of 14 April. But mixed/positive weekly charts are expected to limit any immediate break in consolidation above congestion support at 7.2500. Meanwhile, resistance remains at the 7.3365 low of 8 April and extends to congestion around 7.3500. This area should cap any immediate tests higher.