Published: 2025-09-30T03:07:55.000Z
Chart USD/CNH Update: Corrective pullback from 7.1440/7.1500 resistance
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Settled back from test of resistance at the 7.1440/7.1500 July lows as prices unwind the overbought daily and weekly studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1200 | ** | 19 Sep high | |
| R3 | 7.1900 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1650/80 | * | congestion, 14 Aug low | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1500 | ** | congestion | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
03:00 GMT - Settled back from test of resistance at the 7.1440/7.1500 July lows as prices unwind the overbought daily and weekly studies to reach support at the 7.1200 congestion. Break here will open up room for deeper pullback to support at the 7.1000 level. Corrective pullback is expected to give way to renewed buying interest later to retest resistance at the 7.1500 congestion. Clearance will open up room for stronger gains to retrace the April/September losses to the 7.1650 resistance and the 7.1900/7.2000 area.