Published: 2025-03-28T03:59:54.000Z
Chart USD/CNH Update: Consolidating test of 7.2850 resistance
Technical Analyst
1
Lower in range from test of the 7.2850 resistance as the intraday and daily studies unwind overbought readings
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.3250 | * | 12 Feb high | S1 | 7.2500 | * | congestion | |
| R3 | 7.3110 | ** | Jul high | S2 | 7.2260 | * | Feb low | |
| R2 | 7.3000 | * | congestion | S3 | 7.2175/55 | ** | 38.2%, 12 Mar YTD low | |
| R1 | 7.2850 | * | congestion | S4 | 7.2000 | * | congestion |
Asterisk denotes strength of level
05:20 GMT - Lower in range from test of the 7.2850 resistance as the intraday and daily studies unwind overbought readings. Below the 7.2700 level see room for retest of the 7.2500 support and where break is needed to return focus to the downside to retest support at 7.2260 then 7.2155, 12 March YTD low. Below here will extend losses from the 7.3700/7.3680, December/February highs. Meanwhile, resistance at 7.2850 congestion expected to cap. Close above here, if seen, will see room for stronger correction to resistance at 7.3000/7.3110, congestion and July high.