Published: 2025-06-18T04:46:57.000Z
Chart USD/CNH Update: Extend consolidation above 7.1700/7.1615 lows
Technical Analyst
1
Higher in range, as prices extend consolidation above the 7.1700 low of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1700 | * | 12 Jun low | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | ** | 26 May YTD low | |
| R2 | 7.2200 | ** | congestion | S3 | 7.1500 | * | Oct high | |
| R1 | 7.2000 | * | congestion | S4 | 7.1460 | * | 61.8% Sep/Apr rally |
Asterisk denotes strength of level
04:40 GMT - Higher in range, as prices extend consolidation above the 7.1700 low of last week. Resistance is at the 7.2000 congestion and only clearance here will open up room for stronger corrective bounce to the 7.2200 congestion which is expected to cap. Break here will ease the downside pressure and turn focus to the 7.2500 resistance. Meanwhile, support at the 7.1700/7.1615 lows underpin. Below this will see deeper pullback to retrace the September/April rally and see room to support at 7.1500 October high and 7.1460, 61.8% Fibonacci level.