Published: 2025-08-20T02:54:14.000Z
Chart USD/CNH Update: Higher in consolidation
Technical Analyst
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Edging higher in consolidation above the 7.1800 support to extend bounce from the 7.1680 low of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2540 | * | 38.2% Apr/Jul fall | S1 | 7.1800 | ** | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1680 | * | 14 Aug low | |
| R2 | 7.2200/40 | ** | congestion, 1 Aug high | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Edging higher in consolidation above the 7.1800 support to extend bounce from the 7.1680 low of last week. Daily studies are unwinding oversold readings and suggest room to retest the 7.2000 congestion. Would take break here to clear the way for stronger gains to the 7.2200/40 resistance and where break will further retrace the April/July losses. Support at the 7.1800 congestion now underpin. Below this will return focus to the downside and for retest of the 7.1680 low and 7.1440, July current year low.