Published: 2025-08-07T02:59:59.000Z
Chart USD/CNH Update: Weighing on 7.1800 support
Technical Analyst
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Little change, as prices holds steady above the 7.1800 support to consolidate losses from the 7.2240 swing high
| 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
03:00 GMT - Little change, as prices holds steady above the 7.1800 support to consolidate losses from the 7.2240 swing high. The resulting flag pattern and negative daily studies suggest 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 remains at the 7.2000 level which is expected to cap. Clearance needed to open up the 7.2200/40 highs to retest.