Published: 2025-08-06T03:05:14.000Z
Chart USD/CNH Update: Consolidating at 7.1800 support
Technical Analyst
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Turned up from test of the 7.1800 support as prices consolidate losses from the 7.2240 high
| 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
03:00 GMT - Turned up from test of the 7.1800 support as prices consolidate losses from the 7.2240 high and unwind oversold intraday studies. However, negative daily studies suggest this giving way renewed selling pressure and break here will see room for retest of the 7.1615, May low. Below here will return focus to the 7.1500 level and 7.1440, July current year low. Meanwhile, resistance is lowered to 7.2000 level which is expected to cap. Clearance needed to expose the 7.2200/40 highs to retest.