Published: 2025-03-26T04:44:36.000Z
Chart USD/CNH Update: Extending gains, room to 7.2850 resistance
Technical Analyst
1
Extending break above the 7.2700 resistance to open up room for extension to target 7.2850
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3250 | * | 12 Feb high | S1 | 7.2500 | * | congestion | |
| R3 | 7.3110 | ** | Jul high | S2 | 7.2260 | * | Feb low | |
| R2 | 7.3000 | * | congestion | S3 | 7.2175/55 | ** | 38.2%, 12 Mar YTD low | |
| R1 | 7.2850 | * | congestion | S4 | 7.2000 | * | congestion |
Asterisk denotes strength of level
04:40 GMT - Extending break above the 7.2500 congestion through the 7.2700 resistance to open up room for extension to target 7.2850. Positive daily studies suggest scope for break here to extend bounce from the 7.2155 low and see scope to strong resistance at the 7.3000/7.3110 area. However, gains are seen corrective and expected to give way to renewed selling pressure later. Meanwhile, support remains at the 7.2500 congestion which now underpin. Would take break here to return focus to the 7.2260 and 7.2155 lows.