Published: 2025-08-28T04:33:06.000Z
Chart USD/CNH Update: Weighing on the 7.1500/7.1440 lows
Technical Analyst
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Consolidating retest of the 7.1500/7.1440, July lows, but pressure remains on the downside
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1440 | ** | 24 Jul YTD low | |
| R3 | 7.1930 | * | 20 Aug high | S2 | 7.1200 | * | congestion | |
| R2 | 7.1800 | * | congestion | S3 | 7.1000 | * | congestion | |
| R1 | 7.1700 | * | congestion | S4 | 7.0800 | * | 76.4% 2024/Apr rally |
Asterisk denotes strength of level
04:30 GMT - Consolidating retest of the 7.1500/7.1440, July lows, but pressure remains on the downside. Daily studies are oversold but consolidation here expected to give way to break later to extend the broader losses from the 7.4290, April current year high. Lower will see room to the 7.1200/7.1000 congestion area. Lower still, will see room to the 7.0800, 76.4% Fibonacci level. Meanwhile, resistance at the 7.1700/7.1800 area is expected to cap and sustain losses from the 7.2240, 1st August lower high.