Published: 2025-09-08T04:35:54.000Z
Chart USD/CNH Update: Settling back from test of 7.1440/7.1500 resistance
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Turned back from the corrective bounce to resistance at the 7.1440/7.1500, July lows
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1200 | * | congestion, trendline | |
| R3 | 7.1615 | * | May low | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1500 | ** | congestion | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1440 | * | July low | S4 | 7.0800 | * | 76.4% 2024/Apr rally |
Asterisk denotes strength of level
04:30 GMT - Turned back from the corrective bounce to resistance at the 7.1440/7.1500, July lows. Daily studies are tracking lower and pullback see pressure returning to the downside for retest of the 7.1200 support. Break here will further extend losses from the April current year high to support at the 7.1000 congestion. Lower still, will see room to the 7.0800, 76.4% Fibonacci level. Meanwhile, resistance at the 7.1440/7.1500 area is expected to cap and sustain losses from the August swing high at 7.2240.