Published: 2026-01-29T02:49:13.000Z
Chart USD/CNH Update: Steadied at 6.9315 low, scope for bounce
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Turned up in range from the 6.9315 low as prices consolidate losses from the 6.9960, 8 January high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9960/00 | ** | 8 Jan high, congestion | S1 | 6.9315 | * | 27 Jan YTD low | |
| R3 | 6.9800 | ** | congestion | S2 | 6.9300 | * | congestion | |
| R2 | 6.9710 | * | Sep 2024 year low | S3 | 6.9000 | ** | congestion | |
| R1 | 6.9500 | * | 20 Jan low, congestion | S4 | 6.8700 | * | 76.4% 2023/2025 rally |
Asterisk denotes strength of level
02:40 GMT - Turned up in range from the 6.9315 low as prices consolidate losses from the 6.9960, 8 January high. Positive divergence on the daily chart suggest scope for bounce to unwind oversold daily studies above 6.9500 congestion to strong resistance at the 6.9710/6.9800, 2024 year low and congestion area. Higher still, if seen, will turn focus to 7.0000 level. Meanwhile, support at the 6.9315 low should now underpin. Failure here will open up room for further losses to the 6.9000 figure and 6.8700, 76.4% Fibonacci level.