Published: 2025-08-21T02:57:30.000Z
Chart USD/CNH Update: Under pressure, room for deeper pullback
Technical Analyst
1
Consolidation above the 7.1800 support has given way to break to extend pullback from the 7.2240, 1st August high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1680 | * | 14 Aug low | |
| R3 | 7.2200/40 | ** | congestion, 1 Aug high | S2 | 7.1440 | ** | 24 Jul YTD low | |
| R2 | 7.2000 | * | congestion | S3 | 7.1200 | * | congestion | |
| R1 | 7.1930 | * | 20 Aug high | S4 | 7.1000 | ** | congestion |
Asterisk denotes strength of level
02:50 GMT - Consolidation above the 7.1800 support has given way to break to extend pullback from the 7.2240, 1st August high. Daily studies have turned negative and open up room for retest of the7.1680 low of last week. Break here will retun focus to the 7.1500 level then the 7.1440, 24 July YTD low. Break here will see deeper pullback to retrace the September/April rally. Meanwhile, resistance at the 7.1930/7.2000 area is expected to cap and sustain losses from the 7.2240 high.