Chart USD/CNH Update: Drifting narrowly above 6.7150 low
Little change, as prices drift within a narrow range from the mid-week 6.7150 fresh year low to unwind oversold intraday and daily studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 6.7800 | ** | 3 Jul low | S1 | 6.7150 | * | 26 Aug YTD low | |
| R3 | 6.7630 | * | 21 Jul low | S2 | 6.7000 | ** | 2023 year low | |
| R2 | 6.7540 | ** | Jun low | S3 | 6.6670 | * | 15 Jun 2022 low | |
| R1 | 6.7400 | 7 Aug low, congestion | S4 | 6.6500 | * | congestion |
Asterisk denotes strength of level
02:35 GMT - Little change, as prices drift within a narrow range from the mid-week 6.7150 fresh year low to unwind oversold intraday and daily studies. However, the downside remains vulnerable and further losses to extend the bear trend from the April 2025 year high cannot be ruled out. Lower will see room to the 6.7000, 2023 year low and wedge support from the March swing high. Meanwhile, bullish divergence on weekly chart caution corrective bounce with resistance starting at 6.7400 low of 7 August. Above here will open up room for stronger bounce to retrace losses from the 6.8200 June swing high to resistance at the 6.7540/6.7630 recent lows.