Published: 2025-07-07T03:10:27.000Z
Chart USD/CNH Update: Higher in consolidation from 7.1500 low
Technical Analyst
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Edging higher from the 7.1500 low as prices unwind oversold daily studies and consolidate losses from the April high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1500 | ** | 1 Jun YTD low | |
| R3 | 7.2200 | ** | congestion | S2 | 7.1460 | * | 61.8% Sep/Arp rally | |
| R2 | 7.2000 | * | 11 Jun high, congestion | S3 | 7.1200 | * | congestion | |
| R1 | 7.1800 | * | 13 May low, congestion | S4 | 7.1000 | ** | congestion |
Asterisk denotes strength of level
03:10 GMT - Edging higher from the 7.1500 low as prices unwind oversold daily studies and consolidate losses from the April high. Resistance is at the 7.1800 congestion and break here is needed to open up room for stronger correction to the 7.2000 congestion. Higher, see strong resistance at 7.2200 congestion and March low expected to cap. Corrective gains are expected to give way to renewed selling pressure later. Below 7.1500 support will see room for extension to 7.1460, 61.8% Fibonacci level. Lower still, will turn focus to 7.1200/7.1000 congestion.