Published: 2025-11-18T03:29:51.000Z
Chart USD/CNH Update: Higher in consolidation above 7.0885/7.0850 lows
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Bounce from above support at the 7.0885/7.0850 lows see prices unwinding the oversold intraday and daily studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1650 | * | congestion | S1 | 7.0885 | * | Oct low | |
| R3 | 7.1500/35 | ** | congestion, Oct high | S2 | 7.0850 | ** | 17 Sep YTD low | |
| R2 | 7.1385 | * | 5 Nov high | S3 | 7.0800 | * | 76.4% Sep 2024/Apr rally | |
| R1 | 7.1160 | * | Aug low, congestion | S4 | 7.0600 | * | congestion |
Asterisk denotes strength of level
03:30 GMT - Bounce from above support at the 7.0885/7.0850 lows see prices unwinding the oversold intraday and daily studies. Regaining the 7.1000 level opens up room for stronger gains to resistance at 7.1160, August low. Clearance here will open up room for extension to retest resistance at the 7.1385 and 7.1535, 5 November and October highs. This area is expected to cap and give way to renewed selling pressure later for retest of the 7.0885 and 7.0850 lows. Break of these will extend the April losses and see room the 7.0800 level and 76.4% Fibonacci level.