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Published: 2025-09-08T04:35:54.000Z

Chart USD/CNH Update: Settling back from test of 7.1440/7.1500 resistance

byPakLai Ng

Technical Analyst
-

Turned back from the corrective bounce to resistance at the 7.1440/7.1500, July lows

 LevelImpComment  LevelImpComment
R47.1680*14 Aug low        S17.1200*congestion, trendline
R37.1615*May low S27.1000**congestion
R27.1500**congestion S37.0870 Nov 2024 low
R17.1440*July low S47.0800*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.

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Topics
USD/CNH-TA
EM-Technical
Technical Analysis

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