Published: 2026-06-23T06:05:49.000Z
Chart USD/CNH Update: Room for stronger bounce
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Extending consolidation around 6.7800 congestion following bounce from the 6.7540 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8600 | * | Mar low | S1 | 6.7800 | * | congestion | |
| R3 | 6.8500 | * | 29 Apr high | S2 | 6.7540 | ** | 17 Jun YTD low | |
| R2 | 6.8200/70 | ** | congestion, Feb low | S3 | 6.7350 | * | 61.8% 2022/2025 rally | |
| R1 | 6.8000/60 | * | congestion, Apr low | S4 | 6.7200 | congestion |
Asterisk denotes strength of level
06:00 GMT - Extending consolidation around 6.7800 congestion following bounce from the 6.7540 low. Break above the 2-month wedge pattern see room for stronger bounce as prices unwind oversold daily and weekly studies to retrace losses from the 6.9300/6.9400 March highs. Break above the 6.8000/60 area will see room for stronger gains to strong resistance at 6.8200/70 area. Meanwhile, support is raised to the 6.7800 congestion which is expected to underpin. Break here and the 6.7540 low will resume losses from April 2025 high.