Published: 2025-09-16T02:55:39.000Z
Chart USD/CNH Update: Consolidating at 7.1120 low
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Edged up in consolidation from the 7.1120 low as prices consolidate pullback from the 7.2200 August high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1120 | ** | 11 Sep YTD low | |
| R3 | 7.1500 | ** | congestion | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1440 | * | Jul low | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1300 | congestion | S4 | 7.0800 | * | 76.4% Sep/Apr rally |
Asterisk denotes strength of level
02:50 GMT - Edged up in consolidation from the 7.1120 low as prices consolidate pullback from the 7.2200 August high. Prices are unwinding oversold daily and weekly studies but the downside remains vulnerable and see room to extend losses from the 7.4290, April current year high. Lower will target strong support at the 7.1000 congestion. Below this will see room to the 7.0800, 76.4% Fibonacci level. Meanwhile, resistance is lowered to 1.1300 congestion which is expected to cap. Break here will see room for stronger corrective bounce to strong resistance at the 7.1440/7.1500 area.