Published: 2026-01-20T03:01:26.000Z
Chart USD/CNH Update: Extending losses
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Under pressure as prices extend break of the 6.9710 2024 year low to approach the 6.9500 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0500/40 | ** | congestion, 3 Dec low | S1 | 6.9500 | * | congestion | |
| R3 | 7.0300 | * | congestion | S2 | 6.9300 | * | congestion | |
| R2 | 6.9960/00 | ** | 8 Jan high, congestion | S3 | 6.9000 | ** | congestion | |
| R1 | 6.9710 | Sep 2024 year low | S4 | 6.8700 | * | 76.4% 2023/2025 rally |
Asterisk denotes strength of level
02:50 GMT - Under pressure as prices extend break of the 6.9710 2024 year low to approach the 6.9500 level. Lower will further extend losses from the 7.4290 April high and see room for extension to support at the 6.9300 congestion. Below these will see room to the 6.9000 figure but deep oversold daily and weekly studies caution corrective bounce. Meanwhile, resistance is lowered to the 6.9710, 2024 year low. Would need to regain this to open up room for stronger corrective bounce to the 6.9960 resistance and 7.0000 level.