Published: 2025-07-11T03:01:12.000Z
Chart USD/CNH Update: Under pressure from the 7.1880 high
Technical Analyst
1
Under pressure, as prices extend pullback from the 7.1880 mid-week high
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2500 | * | congestion | S1 | 7.1615 | * | May low | |
| R3 | 7.2200 | ** | congestion | S2 | 7.1500 | ** | 1 Jul YTD low | |
| R2 | 7.2000 | * | 11 Jun high, congestion | S3 | 7.1460 | * | 61.8% Sep/Apr rally | |
| R1 | 7.1880 | * | 9 Jul high | S4 | 7.1200 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Under pressure, as prices extend pullback from the 7.1880 mid-week high. Daily studies are unwinding overbought readings and threatens retest of the May low at 7.1615 then the 7.1500 current year low which is expected to underpin. Below these will see deeper losses to retrace the September/April rally and see room to target 7.1460, 61.8% Fibonacci level. Would take break of the 7.1800/7.1880 resistance to open up room for stronger correction of the April losses to the 7.2000 level and strong resistance at 7.2200.