Chart USD/CNH Update: Drifting narrowly above 6.7400 low
Edged up in range from the 7 August current year low at 6.7400 as prices drift narrowly to consolidate losses from the 6.8200 June swing high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8000 | * | congestion | S1 | 6.7400 | ** | 7 Aug YTD low | |
| R3 | 6.7800 | ** | 3 Jul low | S2 | 6.7350 | * | 61.8% 2022/2025 rally | |
| R2 | 6.7630 | * | 21 Jul low | S3 | 6.7200 | * | congestion | |
| R1 | 6.7540 | ** | Jun low | S4 | 6.7000 | ** | 2023 year low |
Asterisk denotes strength of level
02:40 GMT - Edged up in range from the 7 August current year low at 6.7400 as prices drift narrowly to consolidate losses from the 6.8200 June swing high. Negative daily studies keep pressure on the downside and see scope to further extend the bear trend from the April 2025 year high. Break will see room to target support at 6.7350 Fibonacci level. Lower still, will see room to the 6.7200 congestion and 6.7000, 2023 year low. However, divergence on weekly studies caution corrective bounce with resistance starting at 6.7540, June low. Lift over this will open up room for strong corrective bounce to retrace losses from the 6.8200 high.