Published: 2026-08-07T06:54:54.000Z
Chart AUD/NZD Update: Room to extend corrective bounce
1
Consolidating test of the 1.2000 level following bounce from the 1.1915 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2130 | ** | 3 Jul low | S1 | 1.1915 | ** | 3 Aug low | |
| R3 | 1.2100 | * | congestion | S2 | 1.1900 | * | figure, congestion | |
| R2 | 1.2050 | * | congestion | S3 | 1.1850 | * | congestion | |
| R1 | 1.2000 | * | congestion | S4 | 1.1800 | * | congestion |
Asterisk denotes strength of level
06:40 GMT - Consolidating test of the 1.2000 level following bounce from the 1.1915 low. Prices are unwinding the intraday and daily studies and suggest room for stronger gains within the bearish channel from the 1.2285 May current year high. Break will see room to resistance at the 1.2050 congestion. Above here, if seen, will open up room for retest of strong resistance at 1.2100/30 area where reaction can be expected. Corrective gains are expected to give way to renewed selling pressure later. Break of the 1.1930/1.1915 lows will extend the May losses to retrace strong rally from the April 2025 year low.