Published: 2025-09-12T05:27:24.000Z
Chart USD/CNH Update: Under pressure, room for lower
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Break of the 7.1200 level have seen extension to reach fresh year low at 7.1120
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1120 | ** | 11 Sep YTD low | |
| R3 | 7.1500 | ** | congestion | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1440 | * | Jul low | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1300 | congestion | S4 | 7.0800 | * | 76.4% Sep/Apr rally |
Asterisk denotes strength of level
05:25 GMT - Break of the 7.1200 level have seen extension to reach fresh year low at 7.1120. The negative daily and weekly studies suggest the downside still vulnerable and see room to further extend losses from the 7.4290, April current year high. Lower will target strong support at the 7.1000 congestion then the 7.0800, 76.4% Fibonacci level. Meanwhile, resistance is lowered to 1.1300 congestion which is expected to cap and sustain rejection from strong resistance at the 7.1440/7.1500 area.