Published: 2025-05-27T03:42:15.000Z
Chart USD/CNH Update: Consolidating above 7.1615, fresh year low
Technical Analyst
1
Consolidating break to fresh year low at 7.1615 as prices unwind oversold intraday studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1615 | * | 26 May YTD low | |
| R3 | 7.2155/00 | ** | March low, congestion | S2 | 7.1500 | * | Oct high | |
| R2 | 7.2000 | * | congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.1800 | * | 13 May low | S4 | 7.1000 | ** | figure, congestion |
Asterisk denotes strength of level
03:40 GMT - Consolidating break to fresh year low at 7.1615 as prices unwind oversold intraday studies. However, negative daily studies suggest room for further losses going forward to retrace the September/April rally. Lower will see room to the 7.1500 congestion then 7.1460, 61.8% Fibonacci level. Below the latter will see room to strong support at the 7.1000 congestion. Meanwhile, resistance is lowered to the low of 13 May at 7.1800 which extend to the 7.2000 congestion. This area is expected to cap and sustain losses from the April high.