Published: 2025-12-23T03:23:49.000Z
Chart USD/CNH Update: Extending losses, focus turn to 7.0000 figure
-
Break of the 7.0300 level see prices extending losses from the April YTD high and turn focus to the 7.0000 figure
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.0850 | ** | congestion, Sep low | S1 | 7.0000 | ** | figure | |
| R3 | 7.0730 | * | 8 Dec high | S2 | 6.9710 | ** | Sep 2024 year low | |
| R2 | 7.0500/40 | * | congestion, 3 Dec low | S3 | 6.9645 | * | 2 May 2023 high | |
| R1 | 7.0300 | * | congestion | S4 | 6.9500 | * | congestion |
Asterisk denotes strength of level
03:15 GMT - Break of the 7.0300 level see prices extending losses from the April YTD high and turn focus to the 7.0000 figure. Daily and weekly studies are deep into oversold area and suggest reaction at the latter likely. Failure to hold this will turn focus to the 6.9710, September 2024 year low. Meanwhile, resistance is lowered to the 7.0300 congestion. Regaining this will ease the downside pressure and see room for stronger corrective bounce to retrace recent steep drop from the October swing high.