Published: 2025-09-29T02:38:39.000Z
Chart USD/CNH Update: Sharp pullback from 7.1440/7.1500 resistance
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Settled back from test of strong resistance at the 7.1440/7.1500, July lows
| 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 | ** | congestion | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
02:30 GMT - Settled back from test of strong resistance at the 7.1440/7.1500, July lows. Both daily and weekly studies have turned down to unwind overbought readings as prices retrace gains from the 7.0850 low. Support at the 7.1200 congestion is expected to underpin. Failure here will return focus to the 7.1000 level and threatens pullback to the 7.0850 low. Resistance at the 7.1500 resistance is expected to cap. Clearance here, will open up room for stronger gains to the 7.1900/7.2000 congestion.