Published: 2025-04-03T04:55:46.000Z
Chart USD/CNH Update: Consolidating spike to 7.3500
Technical Analyst
2
Break of the 7.3000/7.3110 resistance saw sharp gains to approach the 7.3500 before settling back to consolidate above the 7.3000
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3750 | ** | Oct 2022 year high | S1 | 7.3000 | * | congestion | |
| R3 | 7.3700 | ** | Dec 2024 year high | S2 | 7.2850 | * | congestion | |
| R2 | 7.3500 | * | congestion | S3 | 7.2700 | * | Feb low | |
| R1 | 7.3250 | * | 12 Feb high | S4 | 7.2530/00 | ** | 31 Mar low, congestion |
Asterisk denotes strength of level
04:45 GMT - Break of the 7.3000/7.3110 resistance saw sharp gains to approach the 7.3500 before settling back to consolidate above the 7.3000 level. Pullback see prices unwinding the overbought intraday studies. Daily studies are stretched as well and suggest scope for pullback to correct rally from the 7.2155 March year low. Support at the 7.3000 congestion now underpin. Below this will open up room for deeper pullback to the 7.2850. Meanwhile, resistance starts at the 12 February high at 7.3250 ahead of the 7.3500 congestion.