Published: 2025-10-24T03:06:13.000Z
Chart USD/CNH Update: Drifting narrowly above 7.1160 low, scope for bounce
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Little change, as prices drift narrowly above the 7.1160 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1160 | * | Aug low | |
| R3 | 7.1900 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1650/80 | * | congestion, 14 Aug low | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1500/35 | ** | congestion, 8 Oct high | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
03:10 GMT - Little change, as prices drift narrowly above the 7.1160 low. Prices are unwinding the oversold intraday and daily studies and suggest scope for bounce to retest resistance at the 7.1500/7.1535 highs. Clearance here will open up room for stronger gains to retrace the April/September losses and see room to 7.1650/80 resistance and 7.1900 congestion. Meanwhile, support at 7.1160 low should underpin. Failure here will return focus to the downside for retest of the 7.1000 congestion and 7.0850 current year low.