Published: 2025-12-02T04:01:55.000Z
Chart USD/CNH Update: Extending consolidation at 7.0650 low
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Extending consolidation above the 7.0650 low as prices unwind oversold intraday and daily studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1385 | * | 5 Nov high | S1 | 7.0650 | * | congestion | |
| R3 | 7.1200 | * | congestion | S2 | 7.0500 | * | congestion | |
| R2 | 7.1000 | * | congestion | S3 | 7.0350 | * | congestion | |
| R1 | 7.0850 | * | Sep low | S4 | 7.0000 | ** | figure |
Asterisk denotes strength of level
03:50 GMT - Extending consolidation above the 7.0650 low as prices unwind oversold intraday and daily studies. However, bearish structure suggest consolidation giving way to fresh selling interest later to extend losses from the 7.4290, April current year high. Lower will see room for extension to 7.0500/7.0350 congestion from October 2024. Break here will turn focus to the 7.0000 figure then the 6.9710, September 2024 year low. Meanwhile, resistance at the 7.0850/7.1000 area is expected to cap corrective bounce and sustain losses from 7.1500/35, October swing high.