Published: 2025-08-05T03:34:47.000Z
Chart USD/CNH Update: Weighing on 7.1800 support, break in focus
Technical Analyst
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Consolidating test of the 7.1800 support as prices unwind oversold intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2540 | * | 38.2% Apr/Jul fall | S1 | 7.1800 | ** | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | * | May low | |
| R2 | 7.2200/40 | ** | congestion, 1 Aug high | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
03:30 GMT - Consolidating test of the 7.1800 support as prices unwind oversold intraday studies following sharp pullback from the 7.2240 high. Daily studies have turned down from overbought areas and see risk for break here to return focus to the downside. for retest of the 7.1615, May low. Below here will turn focus to the 7.1500 level and 7.1440 July current year low and see scope to extend losses from the April high. Meanwhile, resistance is lowered to 7.2000 level which is expected to cap and sustain losses from the 7.2240 high