Published: 2025-11-21T03:57:59.000Z
Chart USD/CNH Update: Consolidating test of 7.1200
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Limited on break above the 7.1160 resistance as prices consolidate test of the 7.1200 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1650 | * | congestion | S1 | 7.1000 | * | congestion | |
| R3 | 7.1500/35 | ** | congestion, Oct high | S2 | 7.0885 | * | Oct low | |
| R2 | 7.1385 | * | 5 Nov high | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1200 | congestion | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
03:50 GMT - Limited on break above the 7.1160 resistance as prices consolidate test of the 7.1200 level. Higher will extend bounce from the 7.0905 low of last week and see room to the October trendline at 7.1300 then the 7.1385, 5 November swing high. Clearance here will return focus to the 7.1500/35 congestion and October 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.