Published: 2024-04-24T13:48:53.000Z
Chart AUD/USD Update: Consolidating test above 0.6500 - daily studies rising
Senior Technical Strategist
1
The anticipated test of congestion resistance at 0.6500 has extended to 0.6530
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 | 0.6530 | * | intraday high | S3 | 0.6350 | * | congestion | |
R1 | 0.6500 | * | congestion | S4 | 0.6300 | * | congestion | |
Asterisk denotes strength of level
14:40 BST - The anticipated test of congestion resistance at 0.6500 has extended to 0.6530, where unwinding overbought intraday studies are prompting a pullback to 0.6500. Daily readings continue to track higher, suggesting room for fresh gains in the coming sessions. However, mixed/negative weekly charts are expected to prompt renewed selling interest towards resistance at 0.6560. Meanwhile, support remains at 0.6400/10 and should underpin any immediate setbacks.