Published: 2024-04-25T14:06:32.000Z
Chart AUD/USD Update: Choppy in range
Senior Technical Strategist
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The anticipated retest above congestion resistance at 0.6500 has met selling interest beneath 0.6560
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6600 | * | congestion | S1 | 0.6400/10 | ** | congestion; 76.4% ret of Oct-Dec rally | |
R3 | 0.6560 | * | break level | S2 | 0.6362 | intraday low | ||
R2 | 0.6538 | intraday high | S3 | 0.6350 | * | congestion | ||
R1 | 0.6500 | * | congestion | S4 | 0.6300 | * | congestion | |
Asterisk denotes strength of level
14:55 BST - The anticipated retest above congestion resistance at 0.6500 has met selling interest beneath 0.6560, as intraday studies turn down, with prices once again balanced beneath 0.6500. A minor pullback is possible, but rising daily readings are expected to limit any immediate losses in fresh buying interest above 0.6400/10. Broader weekly charts are mixed/negative, but a close beneath here is needed to turn sentiment negative and extend March losses towards 0.6350. Meanwhile, any fresh tests above 0.6500 should fade beneath 0.6560.