Published: 2026-01-08T04:44:40.000Z
Chart USD/CNH Update: Higher in consolidation
1
Higher in consolidation from the 6.9663 low as prices consolidate losses from the October swing high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0730 | * | 8 Dec high | S1 | 6.9663 | ** | 2 Jan low | |
| R3 | 7.0500/40 | ** | congestion, 3 Dec low | S2 | 6.9645 | * | 2 May 2023 high | |
| R2 | 7.0300 | * | congestion | S3 | 6.9500 | * | congestion | |
| R1 | 7.0000 | * | congestion | S4 | 6.9300 | * | congestion |
Asterisk denotes strength of level
04:40 GMT - Higher in consolidation from the 6.9663 low as prices consolidate losses from the October swing high and unwind oversold intraday and daily studies. Weekly studies are stretched as well and suggest room for corrective bounce to retrace losses from the October swing high. Bounce see resistance starting at the 7.0000 figure. Above here needed to open up room for stronger bounce to the 7.0300/7.0540 resistance area. However, corrective gains are expected to give way to renewed selling pressure later. Below 6.9663 will see room for extension to support at the 6.9645/6.9500 area.