Published: 2025-06-11T04:31:09.000Z
Chart USD/CNH Update: Drifting narrowly in range but room for stronger bounce
Technical Analyst
1
Little change, as prices drift narrowly above 7.1800 level
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2635 | * | 38.2% Apr/May fall | S1 | 7.1800 | * | congestion | |
| 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
04:25 GMT - Little change, as prices drift narrowly above 7.1800 level following bounce from above the 7.1615 support. Daily studies are unwinding oversold readings and lift over the 7.2000 congestion will open up room for further strength to retrace losses from the April high. Clearance will room to strong resistance at 7.2200. Corrective gains are expected to give way to renewed selling pressure later and break of support at 7.1800 will expose the 7.1615 low to retest and extend losses from the 7.4290, April YTD high.