Published: 2025-09-22T02:47:45.000Z
Chart USD/CNH Update: Consolidating test of 7.1200 level
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Bounce from the 7.0870 support see prices consolidate losses from the 7.2200 August high to reach the 7.1200 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1500 | ** | congestion | S1 | 7.1000 | * | congestion | |
| R3 | 7.1440 | * | Jul low | S2 | 7.0870 | * | Nov 2024 low | |
| R2 | 7.1300 | * | congestion | S3 | 7.0800 | * | 76.4% Sep 2024/Apr rally | |
| R1 | 7.1200 | * | congestion | S4 | 7.0500 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Bounce from the 7.0870 support see prices consolidate losses from the 7.2200 August high to reach the 7.1200 level. Daily studies are unwinding oversold readings and higher will see room to extend corrective gains to the 1.1300 congestion. Higher still, will open up room to the strong resistance at the 7.1440/7.1500 July lows which is expected to cap and give way to renewed selling pressure later. Support is raised to the 7.1000 level ahead of the 7.0870 low. Below these will see extension to the 7.0800, 76.4% Fibonacci level, then 7.0500 congestion.