Published: 2026-07-21T06:44:27.000Z
Chart USD/CNH Update: Under pressure
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Consolidation above the 6.7650 low of last week has given way to renewed selling pressure to retest this low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.8200 | ** | Jun high | S1 | 6.7650 | * | 16 Jul low | |
| R3 | 6.8100 | * | 8 Jul high | S2 | 6.7540 | ** | 17 Jun YTD low | |
| R2 | 6.8000 | * | congestion | S3 | 6.7350 | * | 61.8% 2022/2025 rally | |
| R1 | 6.7800 | ** | 3 Jul low | S4 | 6.7200 | congestion |
Asterisk denotes strength of level
06:40 GMT - Consolidation above the 6.7650 low of last week has given way to renewed selling pressure to retest this low. Follow-through here will open up room for retest of the 6.7540, 17 June current year low. Oversold daily studies suggest reaction at the latter can be expected but bearish trend from the April 2025 year high suggest eventual break likely. Lower will see room for further losses to target 6.7350, 61.8% Fibonacci retracement. Meanwhile, resistance is lowered to 6.7800 level which is expected to cap and sustain losses from the 6.8200 June swing high.