Published: 2025-08-12T15:37:50.000Z
Chart USD/CNH Update: Extending consolidation - daily studies leaning lower
Senior Technical Strategist
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Still little change
| 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 | 7.1440/00 | ** | 24 Jul YTD low; cong | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
16:25 BST - Still little change, as prices extend the flag pattern. Daily readings are mixed/negative, highlighting room for a test below congestion support at 7.1800. Immediate focus will then turn to the 7.1615 monthly low of May. But rising weekly charts are expected to limit any deeper losses in renewed buying interest/consolidation above critical support at the 7.1440 current year low of 24 July and congestion around 7.1500. Meanwhile, resistance remains at congestion around 7.2000. Any immediate break above here should give way to fresh consolidation beneath strong resistance at 7.2200/40.