Published: 2025-11-28T02:40:05.000Z
Chart USD/CNH Update: Consolidating, room for lower later
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Consolidating break to fresh year low at 7.0700 as prices unwind the stretched intraday and daily studies
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.1385 | * | 5 Nov high | S1 | 7.0700 | * | congestion | |
| R3 | 7.1200 | * | congestion | S2 | 7.0500 | * | congestion | |
| R2 | 7.1000 | * | congestion | S3 | 7.0350 | * | congestion | |
| R1 | 7.0850 | * | Sep low | S4 | 7.0000 | ** | figure |
Asterisk denotes strength of level
02:40 GMT - Consolidating break to fresh year low at 7.0700 as prices unwind the stretched intraday and daily studies. Bearish structure keep pressure on the downside and consolidation expected to give way to fresh selling pressure later to extend losses from the 7.4290, April current year high. Lower will see room for extension to 7.0500/7.0350 congestion from October 2024. Below this will turn focus to the 7.0000 figure then the 6.9710, September 2024 year low. Meanwhile, resistance at the 7.0850/7.1000 area is expected to cap and sustain losses from 7.1500/35, October swing high.