Published: 2025-09-03T02:55:03.000Z
Chart USD/CNH Update: Room to extend corrective bounce
Technical Analyst
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Turned higher from the 7.1200 support to reach support turned resistance at the 7.1440/7.1500, July lows
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1200 | * | congestion, trendline | |
| R3 | 7.1615 | * | May low | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1500 | ** | congestion | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1440 | * | July low | S4 | 7.0800 | * | 76.4% 2024/Apr rally |
Asterisk denotes strength of level
02:50 GMT - Turned higher from the 7.1200 support as prices unwind oversold intraday and daily studies to reach support turned resistance at the 7.1440/7.1500, July lows. Break here will open up room for stronger gains to resistance at the 7.1615/80 area. Corrective gains are expected to give way to renewed selling pressure later to retest the 7.1200 level. Break here will further extend losses from the April current year hgh and see room to support at the 7.1000 congestion. Lower will open up room to 7.0870/7.0800 area.