Published: 2025-07-25T03:10:59.000Z
Chart USD/CNH Update: Extending bounce from 7.1460, Fibonacci level
Technical Analyst
-
Break to fresh year low has seen losses checked at the 7.1460, 61.8% Fibonacci level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | * | 11 Jun high, congestion | S1 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R3 | 7.1910 | ** | 16 Jul high | S2 | 7.1200 | * | congestion | |
| R2 | 7.1800 | * | congestion | S3 | 7.1000 | ** | figure, congestion | |
| R1 | 7.1615/50 | * | May low, congestion | S4 | 7.0710/00 | * | Aug low, congestion |
Asterisk denotes strength of level
03:10 GMT - Break to fresh year low has seen losses checked at the 7.1460, 61.8% Fibonacci level. Bounce here see prices unwind oversold daily and weekly studies to retest resistance at 7.1615/50 area. Break here will open up room for stronger gains to retest 7.1800 congestion and the 7.1910 high of last week. Clearance here will see scope for stronger gains to retrace the April/July losses. Meanwhile, support at the 7.1500/7.1460 lows should underpin. A later break here will see extension to the 7.1200 congestion.