Published: 2025-09-25T04:52:34.000Z
Chart USD/CNH Update: Extending corrective bounce
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Break above the 7.1200 resistance see prices extending gains from the 7.0850 current year low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1800 | * | congestion | S1 | 7.1200 | * | congestion | |
| R3 | 7.1650/80 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1500 | ** | congestion | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1440 | * | Jul low | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
04:50 GMT - Break above the 7.1200 resistance see prices extending gains from the 7.0850 current year low. Both daily and weekly studies are tracking higher from oversold areas and suggest room to extend corrective gains to the strong resistance at the 7.1440/7.1500 July lows which is expected to cap. Clearance, if seen, will open up room for extension to 7.1650/80 resistance. Corrective gains are expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 7.1200 level which should underpin and sustain bounce from the 7.0850 low.