Published: 2025-10-17T04:56:57.000Z
Chart USD/CNH Update: Weighing on 7.1200 support, break in focus
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Extending pullback from the 7.1535/7.1500 highs to reach the 7.1200 support
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1200 | ** | 19 Sep high | |
| R3 | 7.1900 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1650/80 | * | congestion, 14 Aug low | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1500/35 | ** | congestion, 8 Oct high | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
05:00 GMT - Extending pullback from the 7.1535/7.1500 highs to reach the 7.1200 support. Negative daily studies suggest consolidation here giving way to break later to open up room for deeper pullback to retrace the September/October gains. Below this will return focus to the downside for retest of the 7.1000 congestion and 7.0850 current year low. Break here will see deeper pullback to retrace the September 2024/April rally. Meanwhile, resistance at the 7.1500/35 highs are expected to cap. Clearance, if seen, will confirm a bottom pattern at the 7.0850 low and open up room for stronger gains to retrace April/September losses.