Published: 2026-02-23T04:50:27.000Z
Chart USD/CNH Update: Poised for retest of 6.8800 low
-
Consolidation at the 6.9000 level has given way to fresh selling pressure to approach the 6.8800 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9710/50 | ** | 2024/2025 year lows | S1 | 6.8800 | ** | 16 Feb YTD low | |
| R3 | 6.9500 | * | congestion | S2 | 6.8700 | * | 76.4% 2023/2025 rally | |
| R2 | 6.9300 | * | Jan low, congestion | S3 | 6.8500 | * | congestion | |
| R1 | 6.9100 | * | 13 Feb high | S4 | 6.8100 | * | Mar 2023 low |
Asterisk denotes strength of level
04:45 GMT - Consolidation at the 6.9000 level has given way to fresh selling pressure to approach the 6.8800 low. Daily studies are mixed and suggest the latter should keep losses in check for now. A later break will further extend losses from April 2025 year high and see room to target 6.8700, 76.4% Fibnacci level, and 6.8500 congestion. Meanwhile, resistance at the 6.9000/6.9100 area now expected to cap. Would need to clear this to open up room for strong bounce to 6.9500 congestion and strong resistance at 6.9710/6.9750, 2024 and 2025 year lows.