Published: 2025-11-07T03:06:33.000Z
Chart USD/CNH Update: Leaning lower
-
Turned lower from below the 7.1400 level as prices consolidate gains from the 7.0885 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1800 | * | congestion | S1 | 7.1160 | * | Aug low | |
| R3 | 7.1650 | * | congestion | S2 | 7.1000 | * | figure | |
| R2 | 7.1500/35 | ** | congestion, Oct high | S3 | 7.0885 | * | 29 Oct low | |
| R1 | 7.1440 | Jul low | S4 | 7.0850 | ** | 17 Sep YTD low |
Asterisk denotes strength of level
03:00 GMT - Turned lower from below the 7.1400 level as prices consolidate gains from the 7.0885 low. Overbought daily studies are unwinding and suggest room for pullback to retest support at 7.1160 low of August. Break here will return focus to the downside and expose the 7.0885/7.0850, November/September lows to retest. Meanwhile, resistance at the 7.1400/40 area now expected to cap. Break will open up room for retest of strong resistance at the 7.1500/35 congestion and October high.