Published: 2025-09-10T04:34:16.000Z
Chart USD/CNH Update: Back in consolidation above 7.1200, but still heavy
Technical Analyst
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Limited on break of the 7.1200 support as prices turned up from the 7.1130 low to consolidate pullback from tjhe 7.1440/7.1500 resistance area
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1680 | * | 14 Aug low | S1 | 7.1200 | * | congestion, trendline | |
| R3 | 7.1500 | ** | congestion | S2 | 7.1000 | ** | congestion | |
| R2 | 7.1440 | * | Jul low | S3 | 7.0870 | Nov 2024 low | ||
| R1 | 7.1350 | congestion | S4 | 7.0800 | * | 76.4% Sep/Apr rally |
Asterisk denotes strength of level
04:30 GMT - Limited on break of the 7.1200 support as prices turned up from the 7.1130 low to consolidate pullback from tjhe 7.1440/7.1500 resistance area. However, daily and weekly studies are still tracking lower and suggest scope for break here to extend losses from the 7.4290, April current year high, to strong support at the 7.1000 congestion. Lower still, will see room to 7.0800, 76.4% Fibonacci level. Meanwhile, resistance is lowered to 1.1350 congestion which is expected to cap and sustain rejection from the 7.1440/7.1500 area.