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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

 LevelImpComment  LevelImpComment
R47.2000**congestion                    S17.1200**19 Sep high
R37.1900*congestion S27.1000*congestion
R27.1650/80*congestion, 14 Aug low S37.0850**17 Sep YTD low
R17.1500**congestion S47.0800*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.

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Topics
USD/CNH-TA
EM-Technical
Technical Analysis

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