Published: 2025-04-14T05:48:24.000Z
Chart USD/CNH Update: Consolidating at 7.2800/00 area, room for lower later
Technical Analyst
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Limited on break of the 7.2820 support as prices consolidate steep drop from the 7.4290, 8 April YTD high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3800 | * | congestion | S1 | 7.2820 | * | 26 Mar high | |
| R3 | 7.3700/50 | ** | 2024/2022 year highs | S2 | 7.2500 | * | congestion | |
| R2 | 7.3500 | * | congestion | S3 | 7.2155 | ** | 12 Mar YTD low | |
| R1 | 7.3270 | * | 19 Dec high | S4 | 7.2000 | * | congestion |
Asterisk denotes strength of level
05:40 GMT - Limited on break of the 7.2820 support as prices consolidate steep drop from the 7.4290, 8 April YTD high. Bounce see prices unwinding the oversold intraday studies but this is expected to give way to renewed selling pressure later. Below 7.2820/00 area will see room to the 7.2500 congestion. Lower still, will return focus to the March YTD low at 7.2155. Meanwhile, resistance is lowered to the 7.3270/7.3500, 19 December high and congestion area, which is expected to cap and sustain losses from the 7.4290 high.