Published: 2025-03-06T05:01:48.000Z
Chart USD/CNH Update: Focus return to 7.2345/7.2260 lows
Technical Analyst
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Sharply lower through the 7.2500 congestion to expose the 7.2345 and 7.2260, January and February lows to retest
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3150 | * | 3 Dec high | S1 | 7.2345 | * | Jan low | |
| R3 | 7.3070 | ** | 3 Mar high | S2 | 7.2260 | ** | 24 Feb YTD low | |
| R2 | 7.2850 | * | congestion | S3 | 7.2175 | * | 38.2% Sep/Dec rally | |
| R1 | 7.2700 | * | congestion | S4 | 7.2000 | * | congestion |
Asterisk denotes strength of level
05:00 GMT - Sharply lower through the 7.2500 congestion to expose the 7.2345 and 7.2260, January and February lows to retest. Break here confirm a double top in place at the December/February highs and see room for deeper pullback to retrace the September/December rally. Lower will see room to the 7.2175, 38.2% Fibonacci level, then the 7.2000 congestion. Meanwhile, resistance is lowered to 7.2700/7.2850 congestion area which is expected to cap and sustain losses from the 7.3070 high.