Published: 2026-01-06T04:06:19.000Z
Chart USD/CNH Update: Consolidating above 6.9663 low
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Edged up in consolidation from the 6.9663 low as prices unwind oversold intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0730 | * | 8 Dec high | S1 | 6.9663 | * | 2 Jan low | |
| R3 | 7.0500/40 | ** | congestion, 3 Dec low | S2 | 6.9645 | * | 2 May 2023 high | |
| R2 | 7.0300 | * | congestion | S3 | 6.9500 | * | congestion | |
| R1 | 7.0000 | * | congestion | S4 | 6.9300 | * | congestion |
Asterisk denotes strength of level
04:05 GMT - Edged up in consolidation from the 6.9663 low as prices unwind oversold intraday studies. Both the daily and weekly studies are stretched as well and caution corrective bounce. However, the downside remains vulnerable and lower will further extend losses from the April 2025 year high and see room to support at the 6.9645/6.9500 area. Meanwhile, resistance at the 7.0000 figure is expected to cap bounce attempt. Regaining this will fade the downside pressure and open up room for stronger gains to retrace losses from the October swing high.