Published: 2025-10-06T04:36:57.000Z
Chart USD/CNH Update: Poised for retest of 7.1500 resistance
1
Turning up from the 7.1200 support with bounce returning focus to resistance at the 7.1500 congestion
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1200 | ** | 19 Sep high | |
| R3 | 7.1900 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1650/80 | * | congestion, 14 Aug low | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1500 | ** | congestion | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
04:30 GMT - Turning up from the 7.1200 support with bounce returning focus to resistance at the 7.1500 congestion. Positive daily and weekly studies suggest scope for break here to confirm a bottom pattern at the 7.0850 September current year low. Clearance will see room for stronger gains to retrace the April/September losses and see room to the 7.1650 resistance. Higher still, will open up room for extension to the 7.1900/7.2000 area. Meanwhile, support at 7.1200 is expected to underpin and sustain bounce from the 7.0850.