Published: 2025-06-17T05:29:22.000Z
Chart USD/CNH Update: Extending consolidation above 7.1700 low
Technical Analyst
2
Little change, as prices extend consolidation above the 7.1700 low of last week
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1700 | * | 12 Jun low | |
| R3 | 7.2500 | * | congestion | S2 | 7.1615 | ** | 26 May YTD low | |
| R2 | 7.2200 | ** | congestion | S3 | 7.1500 | * | Oct high | |
| R1 | 7.2000 | * | congestion | S4 | 7.1460 | * | 61.8% Sep/Apr rally |
Asterisk denotes strength of level
05:30 GMT - Little change, as prices extend consolidation above the 7.1700 low of last week. Daily studies remains mixed and suggest further choppy trade here likely before giving way to renewed selling pressure to retest the 7.1615. Break here will extend losses from the 7.4290 April YTD high and see room to support at 7.1500 then 7.1460, 61.8% Fibonacci level. Meanwhile, resistance at the 7.2000 congestion is expected to cap. Would take break here to open up room for retest of the 7.2200/40, congestion and 2 June high.