Published: 2026-01-28T03:07:28.000Z
Chart USD/CNH Update: Edged off 6.9315 low, but downside vulnerable
2
Turned up in consolidation from fresh low at 6.9315 but the downside remains vulnerable
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.996/00 | ** | 8 Jan high, congestion | S1 | 6.9315 | * | 27 Jan YTD low | |
| R3 | 6.9800 | ** | congestion | S2 | 6.9300 | * | congestion | |
| R2 | 6.9710 | * | Sep 2024 year low | S3 | 6.9000 | ** | congestion | |
| R1 | 6.9500 | * | 20 Jan low, congestion | S4 | 6.8700 | * | 76.4% 2023/2025 rally |
Asterisk denotes strength of level
03:00 GMT - Turned up in consolidation from fresh low at 6.9315 but the downside remains vulnerable. Consolidation is expected to give way to renewed selling pressure later and break here and the 6.9300 level will open up room for extension to the 6.9000 figure. Lower still, will see room to 6.8700, 76.4% Fibonacci level. Meanwhile, resistance is lowered to the 6.9500 congestion which is expected to cap. Only above here will see room for stronger bounce to retest strong resistance at the 6.9710/6.9800, 2024 year low and congestion area.