Published: 2026-03-17T04:46:18.000Z
Chart USD/CNH Update: Leaning lower in consolidation
-
Leaning lower in consolidation from test of the 6.9100 level to return focus to the downside for retest of the 6.8810 and 6.8600 support
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.9700 | * | 2024 year low | S1 | 6.8810 | * | 16 Feb low | |
| R3 | 6.9500 | * | congestion, 38.2% | S2 | 6.8600 | * | 11 Mar low | |
| R2 | 6.9300 | ** | Jan low, congestion | S3 | 6.8270 | ** | 26 Feb YTD low | |
| R1 | 6.9100 | * | congestion | S4 | 6.8100 | * | Mar 2023 low |
Asterisk denotes strength of level
04:40 GMT - Leaning lower in consolidation from test of the 6.9100 level to return focus to the downside for retest of the 6.8810 and 6.8600 support. Mixed daily studies suggest ranging action likely to extend and only below the latter will expose the 6.8270 low to retest. Higher low sought to further pressure the upside later, break above the 6.9100 resistance will expose the strong resistance at the 6.9300/6.9500 area to retest. Clearance here will see room for stronger gains to retrace losses from the April high to resistance at the 6.9700, 2024 year low.