Published: 2025-10-31T03:18:47.000Z
Chart USD/CNH Update: Higher in consolidation from 7.0885 low
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Steadied at the 7.0885 low as prices unwind oversold intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1650 | * | congestion | S1 | 7.0885 | * | 29 Oct low | |
| R3 | 7.1500/35 | ** | congestion, 8 Oct high | S2 | 7.0850 | ** | 17 Sep YTD low | |
| R2 | 7.1325 | * | 17 Oct high | S3 | 7.0800 | * | 76.4% Sep 2024/Apr rally | |
| R1 | 7.1160 | * | Aug low, congestion | S4 | 7.0700 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Steadied at the 7.0885 low as prices unwind oversold intraday studies. Daily chart are oversold as well and suggest room for stronger bounce to retrace losses from resistance at 7.1500/35 area. Bounce see resistance at 7.1160 congestion and regaining this will open up room to retest of 17 October high at 7.1325 then the 7.1500/35 area. The latter is expected to cap and lower high sought to further pressure the downside later. Below the 7.0885/7.0850 lows will further extend losses from the April high and see room to the 7.0800, 76.4% Fibonacci level.