Published: 2026-04-07T05:21:07.000Z
Chart USD/CNH Update: Weighing on 6.8700 support
-
Weighing on the 6.8700 support following rejection from the 6.9270 high of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9710 | * | 2024 year low | S1 | 6.8700 | * | 1 Apr low | |
| R3 | 6.9500 | * | 38.2% 2025/Feb fall | S2 | 6.8600 | ** | Mar low | |
| R2 | 6.9300 | ** | Jan low, congestion | S3 | 6.8270 | ** | 26 Feb YTD low | |
| R1 | 6.9000 | * | congestion | S4 | 6.8100 | * | Mar 2023 low |
Asterisk denotes strength of level
05:15 GMT - Weighing on the 6.8700 support following rejection from the 6.9270 high of last week. Negative daily studies see risk for break here and the 6.8600 support to expose the 6.8270 February YTD low to retest. Below the latter will further extend losses from the 7.4295, April 2025 high. Meanwhile, resistance is lowered to the 6.9000 congestion which is expected to cap. Break here will ease the downside pressure and extend choppy gains to retest resistance at 6.9270 high and 6.9300 congestion. Clearance here will see room to retest strong resistance at the 6.9500 congestion and 38.2% Fibonacci level.