Published: 2025-11-24T16:49:40.000Z
Chart USD/CNH Update: Under pressure
1
Cautious trade is giving way to a drift lower
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1650 | * | congestion | S1 | 7.1000 | * | congestion | |
| R3 | 7.1500/35 | ** | congestion, Oct high | S2 | 7.0885 | * | Oct low | |
| R2 | 7.1385 | ** | 5 Nov (w) high | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1200 | * | congestion | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
16:40 GMT - Cautious trade is giving way to a drift lower, with prices currently consolidating the test of congestion support at 7.1000. Daily readings are under pressure and broader weekly charts are leaning lower, suggesting room for a break beneath here towards critical support at the 7.0800 Fibonacci retracement and the 7.0850 current year low of 17 September. A further close beneath here would turn sentiment outright negative and confirm continuation of broad April losses. Meanwhile, resistance is at congestion around 7.1200 and extends to the 7.1385 weekly high of 5 November. This broad range should cap any immediate tests higher.