Published: 2025-12-22T03:07:35.000Z
Chart USD/CNH Update: Still heavy, but stretched
1
Edged to fresh low at 7.0300 but stretched daily studies see bearish momentum slowing and caution corrective bounce
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1000 | * | congestion | S1 | 7.0300 | * | intraday low | |
| R3 | 7.0850 | ** | congestion, Sep low | S2 | 7.0000 | ** | figure | |
| R2 | 7.0730 | * | 8 Dec high | S3 | 6.9710 | ** | Sep 2024 year low | |
| R1 | 7.0500/40 | * | congestion, 3 Dec low | S4 | 6.9500 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Edged to fresh low at 7.0300 but stretched daily studies see bearish momentum slowing and caution corrective bounce to retrace recent steep drop from the November high. Bounce will see resistance at the 7.0500/7.0540, congestion and 3rd Decmeber low. Clearance here will open up room for stronger corrective bounce to resistance at 7.0730 then the 7.0850/7.1000, September low and congestion area. Below the 7.0300 low will further extend losses from the April YTD high and see room to 7.0000 figure but focus will turn to the 6.9710, September 2024 year low.