Published: 2025-09-04T03:02:47.000Z
Chart USD/CNH Update: Consolidating test of 7.1440/7.1500 resistance
Technical Analyst
-
Remains in consolidation below resistance at the 7.1440/7.1500, July lows
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1200 | * | congestion, trendline | |
| R3 | 7.1615 | * | May low | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1500 | ** | congestion | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1440 | * | July low | S4 | 7.0800 | * | 76.4% 2024/Apr rally |
Asterisk denotes strength of level
03:00 GMT - Remains in consolidation below resistance at the 7.1440/7.1500, July lows. Daily studies are unwinding oversold reading and suggest scope for break here to open up room for stronger gains to the 7.1615/80 resistance. However, corrective gains are expected to give way to renewed selling pressure later to retest the 7.1200 level and where break here will further extend losses from the April current year high. Below this will see room for extension to support at the 7.1000 congestion.