Published: 2025-07-15T04:57:10.000Z
Chart USD/CNH Update: Consolidating above 7.1615/7.1500 support
Technical Analyst
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Remains above the May low at 7.1615 with mixed daily studies suggesting consolidation likely to extend
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1615 | * | May low | |
| R3 | 7.2200 | ** | congestion | S2 | 7.1500 | ** | 1 Jul YTD low | |
| R2 | 7.2000 | * | 11 Jun high, congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.1880 | * | 9 Jul high | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
04:50 GMT - Remains above the May low at 7.1615 with mixed daily studies suggesting consolidation likely to extend here and above the 7.1500 support. Resistance is at the 7.1800/7.1880 area and clearance will open up room for stronger correction of the April losses to the 7.2000 level. Higher still, will see room to retest strong resistance at 7.2200. Meanwhile, support at 7.1615/7.1500 lows should underpin. Failure here, will see further slide to target 7.1460, 61.8% Fibonacci level.