Published: 2025-01-07T06:16:25.000Z
Chart USD/CNH Update: Leaning lowered from the 7.3680/7.3700 highs
Technical Analyst
1
Leaning lower in choppy trade from the 7.3680/7.3700 highs
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3750 | ** | 2022 year high | S1 | 7.3110 | ** | Jul 2024 high | |
| R3 | 7.3700 | ** | 31 Dec 2024 year high | S2 | 7.3000 | * | congestion | |
| R2 | 7.3680 | * | 2023 year high | S3 | 7.2850 | * | 23 Dec low | |
| R1 | 7.3500 | * | congestion | S4 | 7.2730 | * | 26 Nov high |
Asterisk denotes strength of level
06:10 GMT - Leaning lower in choppy trade from the 7.3680/7.3700 highs and pullback see room for retest of the 7.3110 support. Daily studies have turned down from overbought areas and see room for deeper pullback to the 7.3000 congestion. Below these will confirm a top in place at the December high and see room for deeper pullback to retrace strong gains from the September low. Lower will see room to support at the 7.2850/7.2730 area then the 7.2500 congestion. Meanwhile, resistance is lowered to the 7.3500 congestion which is expected to cap and sustain losses from the 7.3680/7.3700 highs.