Published: 2025-06-25T05:36:35.000Z
Chart USD/CNH Update: Weighing on 7.1615, May current year low
Technical Analyst
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Break of the 7.1700 support see prices extending pullback from resistance at the 7.2000 congestion
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1615 | ** | 26 May YTD low | |
| R3 | 7.2500 | * | congestion | S2 | 7.1500 | * | Oct high | |
| R2 | 7.2200 | ** | congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | congestion |
Asterisk denotes strength of level
05:40 GMT - Break of the 7.1700 support see prices extending pullback from resistance at the 7.2000 congestion. Daily studies have turned lower and see pressure returning to the 7.1615 low. Break here will see room for deeper pullback to retrace the September/April rally to support at 7.1500 October high then the 7.1460, 61.8% Fibonacci level. Meanwhile, resistance at the 7.2000 congestion is expected to cap. Would need to clear this to ease the downside pressure and see room for stronger corrective bounce to 7.2200 resistance.