Published: 2025-04-07T03:37:13.000Z
Chart USD/CNH Update: Choppy trade back above 7.3000 level
Technical Analyst
2
Volatile trade see prices extending rebound from the 7.2390 low of Friday
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.4000 | * | figure | S1 | 7.3000 | * | 4 Apr high, congestion | |
| R3 | 7.3750 | ** | Oct 2022 year high | S2 | 7.2850 | * | congestion | |
| R2 | 7.3700 | ** | Dec 2024 year high | S3 | 7.2700 | * | congestion | |
| R1 | 7.3500 | * | congestion | S4 | 7.2390 | ** | 4 Apr low |
Asterisk denotes strength of level
04:30 GMT - Volatile trade see prices extending rebound from the 7.2390 low of Friday to retrace rejection from the 7.3500 resistance. Break above the latter, if seen, will return focus to the 7.3700, December 2024 year high. However, the latter expected to cap and lower high sought to pressure the downside later. Meanwhile, support is raised to the 7.3000 level and break here will fade the upside pressure and see room to retrace rebound from the 7.2390 low. Lower will see room to retest the 7.2850 and 7.2700 congestion.