Published: 2026-05-08T04:34:39.000Z
Chart USD/CNH Update: Consolidating above 6.7960 fresh year low
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Steadied at the 6.7960 fresh year low as prices consolidate losses from the 6.8500 high of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8700 | ** | 1 Apr low | S1 | 6.7960 | ** | 7 May YTD low | |
| R3 | 6.8600 | * | 11 Mar low | S2 | 6.7750 | congestion | ||
| R2 | 6.8500 | ** | 29 Apr high, congestion | S3 | 6.7500 | * | congestion | |
| R1 | 6.8270 | * | Feb low | S4 | 6.7350 | * | 61.8% 2022/2025 rally |
Asterisk denotes strength of level
04:30 GMT - Steadied at the 6.7960 fresh year low as prices consolidate losses from the 6.8500 high of last week. However, pressure remains on the downside and see room for break here to extend losses from the April 2025 year high. Lower will see room for extension to the 6.7750/6.7500 congestion area. Meanwhile, resistance is lowered to the 6.8270 low of February and extending to 6.8500 high of last week. This area is expected to cap and sustain the broader losses from the 6.9430, 3 March swing high.