Published: 2025-08-22T05:34:37.000Z
Chart USD/CNH Update: Drifting narrowly above 7.1800 level
Technical Analyst
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Drifting narrowly above the 7.1800 support following bounce from the 7.1680 low last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1800 | * | congestion | |
| R3 | 7.2200/40 | ** | congestion, 1 Aug high | S2 | 7.1680 | 14 Aug low | ||
| R2 | 7.2000 | * | congestion | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.1930 | * | 20 Aug high | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
05:30 GMT - Drifting narrowly above the 7.1800 support following bounce from the 7.1680 low last week. Daily studies are mixed and suggest the narrow ranging action likely to extend. Resistance is at 7.1930/7.2000 area and clearance here needed to open up room for retest of resistance at the 7.2200/40 area. Meanwhile, support is at the 7.1800 congestion and 7.1680 low which is expected to underpin. Break here will return focus to the downside for retest of the 7.1500/7.1440 lows.