Published: 2025-09-17T03:21:53.000Z
Chart USD/CNH Update: Extending losses
0
-
Under pressure, as prices extend losses from the April high to reach fresh year low at the 7.1000 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1000 | ** | congestion | |
| R3 | 7.1500 | ** | congestion | S2 | 7.0870 | Nov 2024 low | ||
| R2 | 7.1440 | * | Jul low | S3 | 7.0800 | * | 76.4% Sep 2024/Apr rally | |
| R1 | 7.1300 | * | congestion | S4 | 7.0500 | * | congestion |
Asterisk denotes strength of level
03:20 GMT - Under pressure, as prices extend losses from the April high to reach fresh year low at the 7.1000 level. Break here will further retrace gains from the September 2024 year low and see room to the 7.0800, 76.4% Fibonacci level. Oversold daily and weekly studies suggest reaction here likely but consolidation here expected to give way to renewed selling pressure later. Meanwhile, resistance at the 1.1300 congestion is expected to cap. Break here will open up room for stronger bounce to strong resistance at the 7.1440/7.1500 area.