Published: 2025-05-30T05:03:12.000Z
Chart USD/CNH Update: Consolidating above 7.1800
Technical Analyst
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Settled back from the 7.2080 bounce high to consolidate above the 7.1800 support
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1800 | * | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | ** | 26 May YTD low | |
| R2 | 7.2155/200 | ** | Mar low, congestion | S3 | 7.1500 | * | Oct high | |
| R1 | 7.2000 | * | congestion | S4 | 7.1460 | * | 61.8% Sep/Apr rally |
Asterisk denotes strength of level
05:00 GMT - Settled back from the 7.2080 bounce high to consolidate above the 7.1800 support. Break here will expose the 7.1615 low to retest and see room to extend the broader losses from 7.4290, April YTD high. Lower will see room to 7.1500 support and 7.1460, 61.8% Fibonacci level. Meanwhile, resistance at the 7.2000 congestion and 7.2080 high is expected to cap. Break here will fade the downside pressure and clear the way for stronger corrective bounce to resistance at 7.2155/7.2200.