Published: 2026-01-07T04:34:52.000Z
Chart USD/CNH Update: Higher in consolidation from 6.9663 low
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Turned up in consolidation from the 6.9663 low as prices unwind oversold intraday and daily 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
04:30 GMT - Turned up in consolidation from the 6.9663 low as prices unwind oversold intraday and daily studies. Weekly studies are stretched as well and suggest room for corrective bounce to retrace losses from the October swing high. However, corrective gains are expected to give way to renewed selling pressure later to extend losses from the April 2025 year high. Break will see room to support at the 6.9645/6.9500 area. Meanwhile, resistance at the 7.0000 figure is expected to cap. Only above here will delay bears and open up room for stronger gains to retrace losses from the October high.