Published: 2025-10-23T05:50:51.000Z
Chart USD/CNH Update: Drifting narrowly above 7.1160 low
2
Drifting narrowly above the 7.1160 low as prices unwind the oversold intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1160 | * | Aug low | |
| R3 | 7.1900 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1650/80 | * | congestion, 14 Aug low | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1500/35 | ** | congestion, 8 Oct high | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
05:45 GMT - Drifting narrowly above the 7.1160 low as prices unwind the oversold intraday studies. Daily studies are oversold as well and suggest scope for bounce here to retrace pullback from the 7.1500/7.1535 highs. Clearance here will open up room for stronger gains to retrace the April/September losses and see room to 7.1650/80 resistance and 7.1900 congestion. Meanwhile, support at 7.1160 low should underpin. Failure here will return focus to the downside for retest of the 7.1000 congestion and 7.0850 current year low.