Published: 2025-10-01T03:03:03.000Z
Chart USD/CNH Update: Consolidating, higher later
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Extending consolidation within the 7.1500/7.1200 area
| Level | Imp | Comment | Level | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 7.2000 | ** | congestion | S1 | 7.1200 | ** | 19 Sep high | |
| R3 | 7.1900 | * | congestion | S2 | 7.1000 | * | congestion | |
| R2 | 7.1650/80 | * | congestion, 14 Aug low | S3 | 7.0850 | ** | 17 Sep YTD low | |
| R1 | 7.1500 | ** | congestion | S4 | 7.0800 | * | 76.4% Sep 2024/Apr rally |
Asterisk denotes strength of level
03:00 GMT - Extending consolidation within the 7.1500/7.1200 area as prices unwind the overbought daily studies. Positive weekly studies suggest this giving way to renewed buying interest later and break of the 7.1500 resistance will open up room for stronger gains to retrace the April/September losses to the 7.1650 resistance. Beyond this will see room for stronger gains to the 7.1900/7.2000 area. Meanwhile, support at 7.1200 now underpin and sustain bounce from the 7.0850, September current year low.