Published: 2025-07-31T03:24:23.000Z
Chart USD/CNH Update: Consolidating test of 7.2155/7.2200 resistance
Technical Analyst
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Break above the 7.1800 resistance has seen follow-through above 7.2000 to reach strong resistance at the 7.2155/7.2200
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2540 | * | 38.2% Apr/Jul fall | S1 | 7.1800 | ** | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | * | May low | |
| R2 | 7.2200 | ** | congestion | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2155 | * | Mar low | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
03:20 GMT - Break above the 7.1800 resistance has seen follow-through above 7.2000 to reach strong resistance at the 7.2155/7.2200, March low and congestion area. Overbought daily studies suggest reaction here likely but a later break higher cannot be ruled out as weekly studies unwind oversold readings. Clearance will see room to the 7.2500 level and 7.2540, 38.2% Fibonaccilevel. Meanwhile, support is raised to the 7.1800 congestion which should underpin and limit corrective pullback.