Chart USD/CNH Update: Consolidating above 6.8700 support
Little change, as prices extend consolidation above the 6.8700 low following rejection from the 6.9270 high of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9710 | * | 2024 year low | S1 | 6.8700 | * | 1 Apr low | |
| R3 | 6.9500 | * | 38.2% 2025/Feb fall | S2 | 6.8600 | ** | Mar low | |
| R2 | 6.9300 | ** | Jan low, congestion | S3 | 6.8270 | ** | 26 Feb YTD low | |
| R1 | 6.9000 | * | congestion | S4 | 6.8100 | * | Mar 2023 low |
Asterisk denotes strength of level
06:00 GMT - Little change, as prices extend consolidation above the 6.8700 low following rejection from the 6.9270 high of last week. Negative daily studies see risk for break here and the 6.8600 support to expose the 6.8270 February YTD low to retest. Below the latter will see further losses to retrace the 2022/2025 rally. Meanwhile, resistance is lowered to the 6.9000 congestion which is expected to cap. Above here will open up room for further choppy gains to retest resistance at 6.9270 high and 6.9300 congestion. Beyond this will see room to retest strong resistance at the 6.9500 congestion and 38.2% Fibonacci level.