Published: 2025-08-18T04:46:27.000Z
Chart USD/CNH Update: Extend consolidation above 7.1800 support
Technical Analyst
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Little change, as prices extend consolidation above the 7.1800 support following bounce from the 7.1680 pin bar low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2540 | * | 38.2% Apr/Jul fall | S1 | 7.1800 | ** | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1680 | * | 14 Aug low | |
| R2 | 7.2200/40 | ** | congestion, 1 Aug high | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
04:45 GMT - Little change, as prices extend consolidation above the 7.1800 support following bounce from the 7.1680 pin bar low. Daily studies have turned up from oversold areas and suggest room to extend bounce from the latter to retest the 7.2000 congestion. Clearance here will expose the 7.2200/40 resistance to retest and retrace the April/July losses. Support at the 7.1800 congestion now underpin. Close below this will return focus to the downside and sets up scope for retest of the 7.1500 level then 7.1440, July current year low.