Published: 2025-08-04T05:49:58.000Z
Chart USD/CNH Update: Pressuring 7.1800 support, break in focus
Technical Analyst
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Extending sharp pullback from the 7.2240 high to pressure support at the 7.1800 congestion
| 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 | 7.2200/40 | ** | congestion, 1 Aug high | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
05:45 GMT - Extending sharp pullback from the 7.2240 high to pressure support at the 7.1800 congestion. Daily studies have turned down from overbought areas and see risk for break here to return focus to the downside. Break will see room to the 7.1615 support. Below here will return focus to the 7.1440 July current year low and see scope to extend losses from the April high. Meanwhile, resistance is lowered to 7.2000 which is expected to cap and sustain losses from the 7.2240 high