Published: 2025-12-16T05:49:12.000Z
Chart USD/CNH Update: Extending losses, but stretched
1
Pressure remains on the downside and break of the 7.0500 congestion further extend losses from the April YTD high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1000 | * | congestion | S1 | 7.0350 | * | congestion | |
| R3 | 7.0850 | ** | congestion, Sep low | S2 | 7.0000 | ** | figure | |
| R2 | 7.0730 | * | 8 Dec high | S3 | 6.9710 | ** | Sep 2024 year low | |
| R1 | 7.0500 | * | congestion | S4 | 6.9500 | * | congestion |
Asterisk denotes strength of level
05:45 GMT - Pressure remains on the downside and break of the 7.0500 congestion further extend losses from the April YTD high. Bearish momentum see support at the 7.0350 congestion area from October 2024 now within reach. Lower still, will see potential to the 7.0000 figure but focus will turn to the 6.9710, September 2024 year low. Meanwhile, resistance is lowered to 7.0500 congestion. Would need to regain this to see room for corrective bounce to resistance at 7.0730 congestion and the 7.0850/7.1000, September low and congestion area.