Categories: Technical analysis

USDCNH Wave Analysis – 31 October 2025

USDCNH: ⬆️ Buy

– USDCNH reversed from key support level 7.0890

– Likely to rise to resistance level 7.145

USDCNH currency pair recently reversed from the support area between the key support level 7.0890 (which stopped the previous impulse wave 1 in the middle of September) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star – strong buy signal for USDCNH.

Given the strength of the support level 7.0890, USDCNH can be expected to rise toward the next resistance level 7.145 (former support from July, which stopped earlier waves iv, a and 2).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: USDCNH

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