Published: 2026-02-16T17:15:28.000Z
Chart USD/CNH Update: Extending April 2025 losses
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Cautious trade has given way to the anticipated break below 6.9000
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9650 | * | break level | S1 | 6.8700 | * | 76.4% 2023/2025 rally | |
| R3 | 6.9500 | * | congestion | S2 | 6.8600 | ** | range lows | |
| R2 | 6.9300 | break level | S3 | 6.8300 | * | April 2023 low | ||
| R1 | 6.9000 | ** | congestion | S4 | 6.8000 | ** | congestion |
Asterisk denotes strength of level
17:30 GMT - Cautious trade has given way to the anticipated break below 6.9000, with prices currently trading around 6.8860. Daily readings are bearish, highlighting room for a test of strong support at the 6.8700 Fibonacci retracement and the 6.8600 historic range lows. However, already oversold daily stochastics could limit any initial tests in consolidation, before bearish weekly charts extend April 2025 losses still further. Meanwhile, resistance is lowered to congestion around 6.9000. A close above here, if seen, will help to stabilise price action and give way to fresh consolidation beneath 6.9300.