Published: 2025-12-15T05:04:15.000Z
Chart USD/CNH Update: Extending losses
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Pressure remains on the downside as consolidation at the 7.0500 level gives way to break to extend losses from the April YTD high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1200 | ** | congestion | S1 | 7.0350 | * | congestion | |
| R3 | 7.1000 | * | congestion | S2 | 7.0000 | ** | figure | |
| R2 | 7.0800/50 | * | congestion, Sep low | S3 | 6.9710 | ** | Sep 2024 year low | |
| R1 | 7.0730 | * | 8 Dec high | S4 | 6.9500 | * | congestion |
Asterisk denotes strength of level
05:00 GMT - Pressure remains on the downside as consolidation at the 7.0500 level gives way to break to extend losses from the April YTD high. Bearish momentum keep pressure on the downside and lower will see room to support at the 7.0350 congestion area from October 2024. Lower still, will see potential to the 7.0000 figure but focus will turn to the 6.9710, September 2024 year low. Meanwhile, resistance at the 7.0730 is expected to cap. Only above here will open up room for stronger corrective bounce to 7.0850/7.1000, September low and congestion area.