Published: 2025-06-09T06:24:26.000Z
Chart USD/CNH Update: Higher in consolidation from 7.1615 low
Technical Analyst
1
Edged up in consolidation from the 7.1615 low and regaining 7.1800 see room for stronger bounce to 7.2000 congestion
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1615 | ** | 26 May YTD low | |
| R3 | 7.2500 | * | congestion | S2 | 7.1500 | * | Oct high | |
| R2 | 7.2200 | ** | congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
06:15 GMT - Edged up in consolidation from the 7.1615 low and regaining 7.1800 see room for stronger bounce to 7.2000 congestion. Daily studies are unwinding oversold readings and clearance here will see room to strong resistance at 7.2200, congestion and previous low. Gains above here, if seen, will open up room for stronger retracement of losses from the April high. Higher will see extension to 7.2500 resistance. Meanwhile, support is raised to 7.1800 which should underpin and sustain gains from the 7.1615 low.