Published: 2025-03-27T05:23:30.000Z
Chart USD/CNH Update: Backed from test of 7.2850 resistance
Technical Analyst
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Break above the 7.2700 congestion has seen gains coming under selling pressure at the 7.2850 resistance
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3250 | * | 12 Feb high | S1 | 7.2500 | * | congestion | |
| R3 | 7.3110 | ** | Jul high | S2 | 7.2260 | * | Feb low | |
| R2 | 7.3000 | * | congestion | S3 | 7.2175/55 | ** | 38.2%, 12 Mar YTD low | |
| R1 | 7.2850 | * | congestion | S4 | 7.2000 | * | congestion |
Asterisk denotes strength of level
05:20 GMT - Break above the 7.2700 congestion has seen gains coming under selling pressure at the 7.2850 resistance. Intraday and daily studies have turned down to unwind overbought readings and pullback through the 7.2700 level see room for retest of the 7.2500 support. Below the latter will return focus to support at 7.2260 then 7.2155, 12 March YTD low. Meanwhile, resistance at 7.2850 congestion now expected to cap. Only above here will see room for stronger correction to resistance at the 7.3000/7.3110, congestion and July high.