Published: 2025-08-08T02:49:29.000Z
Chart USD/CNH Update: Extend consolidation at 7.1800 support
Technical Analyst
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Little change, as prices extend consolidation above the 7.1800 support
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2540 | * | 38.2% Apr/Jul fall | S1 | 7.1800 | ** | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | * | May low | |
| R2 | 7.2200/40 | ** | congestion, 1 Aug high | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Little change, as prices extend consolidation above the 7.1800 support and unwind oversold intraday studies. However, pressure remains on the downside with the resulting flag pattern suggesting this giving way renewed selling pressure later. Break here will see room for retest of the 7.1615, May low. Below this will return focus to the 7.1500 level and 7.1440, July current year low. Meanwhile, resistance at the 7.2000 level is expected to cap and sustain losses from the 7.2240 swing high.