Published: 2025-01-14T00:29:10.000Z
Chart AUD/USD Update: Shallow bounce from .6130 year low
Technical Analyst
1
Extending bounce from the .6130 fresh year low to test resistance at the .6200 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6348 | * | Aug low | S1 | 0.6130 | * | 13 Jan low | |
| R3 | 0.6300 | * | congestion | S2 | 0.6100 | ** | 76.4% 2020/2021 rally | |
| R2 | 0.6270 | ** | 2023 year low | S3 | 0.6000 | * | figure | |
| R1 | 0.6200 | * | congestion | S4 | 0.5980 | * | Apr 2020 low |
Asterisk denotes strength of level
00:15 GMT - Extending bounce from the .6130 fresh year low to test resistance at the .6200 congestion. Intraday studies are unwinding oversold readings and suggest scope for break here to open up room for stronger bounce to the strong resistance at the .6270/.6300 area. Break here, if seen, will clear the way for stronger recovery to retrace sharp losses from the September high. However, gains are seen corrective and expected to give way to renewed selling pressure later. Below the .6130 low will extend the broad bearish trend from the 2021 high and see room to the .6100, 76.4% Fibonacci level.