USD/CNH slips below March lows, downtrend resumes – Société Générale

FXStreetMay 6, 2025 10:11 AM

View all comments（0）



USD/CNH has lost traction after failing to hold above its 50-DMA and now trades below key March support, with the pair’s inability to reclaim 7.30 suggesting further downside risk toward 7.14 and 7.10, Société Générale's FX analysts note.

Resistance at 7.30 key to capping any rebound

"USD/CNH faced strong resistance near 7.43 last month and quickly gave up the 50-DMA. It has now dipped below March lows denoting regaining downward momentum."

"The pair has formed an interim low near 7.18. A brief bounce can’t be ruled out but inability to overcome last week high of 7.30 can result in persistence of downtrend. Next potential objectives could be located at projections of 7.14 and 7.10."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Nasdaq Rebounds 1% After Yesterday's 5% Slump Led by Tech, SpaceX Shares Jump Over 8%

On Friday, November 6, Eastern Time, U.S. stocks diverged. Following a sharp drop in the previous session, chip stocks attracted dip-buyers, driving a rebound in the Nasdaq and the S&P 500, while the Dow remained under pressure. Meanwhile, stronger-than-expected employment data prompted markets to increase their bets on a Federal Reserve rate hike in December.

【US Pre-Market】Chip Stocks Rebound as Micron, AMD Rise Over 8% and SanDisk Jumps Over 12% Ahead of October Nonfarm Payrolls

TradingKey - On November 6, Eastern Time, futures tied to the three major U.S. stock indices were mixed. As of press time, Nasdaq 100 index futures were up about 1.49%, S&P 500 index futures rose approximately 0.22%, and Dow futures fell around 1.09%.

US Memory Stocks Rebound Strongly Pre-Market: SanDisk Rises 12%, Micron Gains Over 9%, but AI Selloff Cloud Has Not Dissipated

TradingKey - Following a heavy sell-off in the previous trading session, the U.S. memory sector staged a collective rebound in pre-market trading on November 6. SanDisk (SNDK) rose nearly 12%, Micron Technology (MU) gained over 9%, Western Digital (WDC) and Silicon Motion (SIMO) both climbed over 8%, Seagate Technology (STX) advanced more than 7%, and SK Hynix (SKHY) also rebounded nearly 6%.

Berkshire Hathaway Q3 Earnings Preview: Insurance Profits and Cash Deployment in Focus as UBS Raises Class B Price Target to $628

TradingKey - Berkshire Hathaway (BRK.A, BRK.B) will release its third-quarter 2026 financial results on the morning of November 7, Eastern Time. As of the close on November 5, its Class B shares closed at $572.33.

Today’s Market Recap: Nasdaq Falls Over 5%, AI Stocks Plunge as Nvidia Drops Over 9%, Micron Falls Over 17%, SanDisk Drops Over 22%

TradingKey - In the Asian session on November 6, the three major U.S. stock indices tumbled across the board overnight, with selling intensifying across the AI data center supply chain and largely erasing the previous session's rebound. As market concerns mounted over AI infrastructure financing cos

Featured Tools