Published: 2025-08-15T04:45:24.000Z
Chart USD/CNH Update: Back in consolidation above 7.1800 support
Technical Analyst
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Back in consolidation above the 7.1800 support after failing to sustain break to 7.1680 low
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2540 | * | 38.2% Apr/Jul fall | S1 | 7.1800 | ** | congestion | |
| R3 | 7.2500 | * | congestion | S2 | 7.1680 | * | 14 Aug low | |
| R2 | 7.2200/40 | ** | congestion, 1 Aug high | S3 | 7.1440 | ** | 24 Jul YTD low | |
| R1 | 7.2000 | * | congestion | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
04:40 GMT - Back in consolidation above the 7.1800 support after failing to sustain break to 7.1680 low. Daily studies have turned up from oversold areas and suggest room to extend bounce from the latter to retest the 7.2000 congestion. Clearance here will expose the 7.2200/40 resistance to retest and retrace the April/July losses. Support at the 7.1800 congestion should underpin. Close below this will return focus to the downside and sets up scope for retest of the 7.1500 level then 7.1440, July current year low.