Published: 2026-02-03T03:12:01.000Z
Chart USD/CNH Update: Under pressure, 6.9315 low at risk
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Consolidation around the 6.9500 level has given way to renewed selling pressure and threatens retest of the 6.9315 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0150 | 29 Dec high | S1 | 6.9315 | * | 27 Jan YTD low | ||
| R3 | 7.0000 | * | congestion | S2 | 6.9300 | * | congestion | |
| R2 | 6.9960/00 | ** | 8 Jan high, congestion | S3 | 6.9000 | ** | congestion | |
| R1 | 6.9710 | * | Sep 2024 year low | S4 | 6.8700 | * | 76.4% 2023/2025 rally |
Asterisk denotes strength of level
03:10 GMT - Consolidation around the 6.9500 level has given way to renewed selling pressure and threatens retest of the 6.9315 low. Positive daily chart have turned mixed and see pressure returning to the downside and break here will extend the broader losses from the 7.4290, 2025 year high. Lower will see room to the 6.9000 figure and 6.8700, 76.4% Fibonacci level. Meanwhile, resistance at the 6.9630/6.9710 area now expected to cap. Would take break here to clear the way for stronger corrective bounce to the 7.0000 figure.