Published: 2025-04-24T15:27:35.000Z
Chart USD/CNH Update: Cautious trade - studies leaning lower
Senior Technical Strategist
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Little change, as prices extend cautious trade within the 7.2765 - 7.3000 range
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3700/50 | ** | 2024/2022 year highs | S1 | 7.2765 | * | 14 Apr (w) low | |
| R3 | 7.3500 | * | congestion | S2 | 7.2500 | * | congestion | |
| R2 | 7.3365 | * | 8 Apr low | S3 | 7.2155 | ** | 12 Mar YTD low | |
| R1 | 7.3000 | * | congestion | S4 | 7.2000 | * | break level |
Asterisk denotes strength of level
16:15 BST - Little change, as prices extend cautious trade within the 7.2765 - 7.3000 range. Intraday studies are under pressure and daily readings are also falling, highlighting potential for a test below the 7.2765 weekly low of 14 April and continuation of April losses towards congestion around 7.2500. However, rising weekly charts could limit any initial tests in fresh consolidation. Meanwhile, any immediate tests above congestion resistance at 7.3000 should give way to further consolidation beneath 7.3365.