Published: 2025-11-20T03:15:10.000Z
Chart USD/CNH Update: Higher through the 7.1160 resistance
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Break of the 7.1160 resistance see prices extending bounce from the 7.0905 low of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1800 | * | congestion | S1 | 7.1000 | * | congestion | |
| R3 | 7.1650 | * | congestion | S2 | 7.0885 | * | Oct low | |
| R2 | 7.1500/35 | ** | congestion, Oct high | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1385 | * | 5 Nov high | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
03:10 GMT - Break of the 7.1160 resistance see prices extending bounce from the 7.0905 low of last week. Higher will see room to retest resistance at the 7.1385 and 7.1535, 5 November and October lower highs. Clearance here, if seen, will confirm a double bottom at the September/October lows and see stronger retracement of losses from the April high. Corrective gains are expected to give way to renewed selling pressure later. Below the 7.1000 figure will expose the 7.0885 and 7.0850 lows to retest and see scope for extension to 7.0800 level and 76.4% Fibonacci level.