Published: 2025-12-03T03:05:44.000Z
Chart USD/CNH Update: Extending losses
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Under pressure, as consolidation at 7.0650 gave way to renewed selling pressure
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1385 | * | 5 Nov high | S1 | 7.0500 | * | congestion | |
| R3 | 7.1200 | * | congestion | S2 | 7.0350 | * | congestion | |
| R2 | 7.1000 | * | congestion | S3 | 7.0000 | ** | figure | |
| R1 | 7.0800/50 | * | congestion, Sep low | S4 | 6.9710 | ** | Sep 2024 year low |
Asterisk denotes strength of level
03:00 GMT - Under pressure, as consolidation at 7.0650 gave way to renewed selling pressure. Lower will see room for extension to 7.0500/7.0350 congestion area from October 2024. Break here will see potential to the 7.0000 figure though focus will turn to the 6.9710, September 2024 year low. Below the latter will extend losses from the April current year high. Meanwhile, resistance is lowered to the 7.0800/50 congestion and September low which is expected to cap corrective bounce and sustain losses from 7.1500/35, October swing high.