Published: 2025-09-01T03:17:27.000Z
Chart USD/CNH Update: Higher in consolidation from 7.1200 support
Technical Analyst
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Turned up from test of the trendline from the January 2023 low at the 7.1200 congestion
| 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
03:15 GMT - Turned up from test of the trendline from the January 2023 low at the 7.1200 congestion as prices consolidate losses through the 7.1680 support last week. Bounce here see prices unwinding the oversold intraday and daily studies but this is expected to give way to renewed selling pressure later. Lower will open up room to the 7.1000 level and the 1.0870/1.0800 support. Meanwhile, resistance is lowered to the 7.1440/7.1500, July lows, which is expected to cap and sustain losses from the 7.2240 1st August high.