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Published: 2025-10-06T04:36:57.000Z

Chart USD/CNH Update: Poised for retest of 7.1500 resistance

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Turning up from the 7.1200 support with bounce returning focus to resistance at the 7.1500 congestion

 LevelImpComment  LevelImpComment
R47.2000**congestion                    S17.1200**19 Sep high
R37.1900*congestion S27.1000*congestion
R27.1650/80*congestion, 14 Aug low S37.0850**17 Sep YTD low
R17.1500**congestion S47.0800*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.

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Topics
USD/CNH-TA
EM-Technical
Technical Analysis

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