Published: 2026-02-05T02:45:48.000Z
Chart USD/CNH Update: Consolidating above 6.9290 low
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Turned up from fresh low at 6.9290 as prices unwind oversold intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0000 | * | figure | S1 | 6.9290 | ** | 4 Feb YTD low | |
| R3 | 6.9710 | * | Sep 2024 year low | S2 | 6.9200 | * | congestion | |
| R2 | 6.9630 | ** | 2 Feb high | S3 | 6.9000 | ** | congestion | |
| R1 | 6.9500 | * | congestion | S4 | 6.8700 | * | 76.4% 2023/2025 rally |
Asterisk denotes strength of level
02:40 GMT - Turned up from fresh low at 6.9290 as prices unwind oversold intraday studies. Divergence on the daily studies suggest scope for bounce here to unwind oversold readings. Resistance is at the 6.9500 congestion then the 6.9630, Monday's bounce high. Break of the latter will confirm a small double bottom at the 6.9315/6.9290 lows and open up room for stronger gain to retrace losses from the 7.1500, October swing high. Failure to hold the 6.9290 low will see room for extension to to the 6.9200 congestion then the 6.9000 level.