Published: 2025-06-24T06:11:27.000Z
Chart USD/CNH Update: Leaning lower in consolidation
Technical Analyst
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Leaning lower in consolidation below resistance at the 7.2000 congestion
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1700 | * | 12 Jun low | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | ** | 26 May YTD low | |
| R2 | 7.2200 | ** | congestion | S3 | 7.1500 | * | Oct high | |
| R1 | 7.2000 | * | congestion | S4 | 7.1460 | * | 61.8% Sep/Apr rally |
Asterisk denotes strength of level
06:10 GMT - Leaning lower in consolidation below resistance at the 7.2000 congestion. Daily studies have turned lower and see risk for pullback to retest the 7.1700 and 7.1615 lows. Break of these will see room for deeper pullback to retrace the September/April rally to support at 7.1500 October high and 7.1460, 61.8% Fibonacci level. Meanwhile, resistance at the 7.2000 congestion is expected to cap. Would need to regain this to ease the downside pressure and see room for stronger corrective bounce to 7.2200 resistance.