Published: 2026-06-02T03:40:04.000Z
Chart USD/CNH Update: Extending losses
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Pressure remains on the downside as prices edge to fresh year low at 6.7600 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8500 | ** | 29 Apr high, congestion | S1 | 6.7600 | intraday low | ||
| R3 | 6.8200/70 | ** | congestion, Feb low | S2 | 6.7500 | * | congestion | |
| R2 | 6.8000/60 | * | congestion, Apr low | S3 | 6.7350 | * | 61.8% 2022/2025 rally | |
| R1 | 6.7815/00 | * | 14 May low, congestion | S4 | 6.7200 | congestion |
Asterisk denotes strength of level
03:30 GMT - Pressure remains on the downside as prices edge to fresh year low at 6.7600 level. Nearby see room to the 6.7500 level as prices extend the bearish trend from the 7.4295, April 2025 year high. Lower still, will see scope to target 6.7350, 61.8% Fibonacci retracement. However, deep oversold daily and weekly studies caution corrective bounce. Meanwhile, resistance is lowered to the 6.7815 low of 14 May. Would take break here to ease the downside pressure and open up room for stronger correction to the 6.8000/60 congestion and April low.