Published: 2025-05-21T06:05:40.000Z
Chart USD/CNH Update: Extending rejection from 7.2265 high
Technical Analyst
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Limited above the 7.2200 resistance as prices turned down from the 7.2265 high and unwind overbought intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3000 | * | congestion | S1 | 7.2000 | * | congestion | |
| R3 | 7.2785 | ** | 14 Apr low, 38.2% | S2 | 7.1800/90 | * | congestion, 13 May YTD low | |
| R2 | 7.2500/65 | * | congestion, 29 Apr low | S3 | 7.1650 | * | Oct high | |
| R1 | 7.2200 | * | congestion | S4 | 7.1500 | * | congestion |
Asterisk denotes strength of level
06:00 GMT - Limited above the 7.2200 resistance as prices turned down from the 7.2265 high and unwind overbought intraday studies. The daily studies have turned mixed and see room for pullback to retest the 7.2000 level. Below this will expose the 7.1800/7.1790 low to retest. Break here will extend losses from the 7.4290, April current year high, and see room to the 7.1650 high of October then the 7.1500 congestion. Meanwhile, resistance is lowered to 7.2200 congestion which is expected to cap and sustain losses from the April high.