Published: 2025-06-12T05:15:02.000Z
Chart USD/CNH Update: Lower in choppy trade
Technical Analyst
1
Little change, as prices drift narrowly below the 7.2000 level following bounce from above the 7.1615 support
| 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
05:15 GMT - Little change, as prices drift narrowly below the 7.2000 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. Beyond this will expose strong resistance at 7.2200. However, 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.