Chart AUD/USD Update: Consolidating test of .7080/.7100 resistance
Little change, as prices settled back from test of strong resistance at the .7080/.7100 area to consolidate above .7050 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7150 | * | congestion | S1 | 0.7050 | * | congestion | |
| R3 | 0.7120 | * | 61.8% May/Jun fall | S2 | 0.7000 | * | figure, congestion | |
| R2 | 0.7100 | ** | congestion | S3 | 0.6950 | ** | congestion | |
| R1 | 0.7080 | * | May low | S4 | 0.6922 | ** | 29 Jul low |
Asterisk denotes strength of level
00:15 GMT - Little change, as prices settled back from test of strong resistance at the .7080/.7100 area to consolidate above .7050 congestion. Daily studies are unwinding overbought readings and caution deeper pullback to retrace recent gains from the .6922 low. Lower will see room towards support at the .7022/.7000 last Friday's low and congestion area which is expected to underpin. Consolidation is expected to give way to fresh buying interest later to extend the bullish prices action from the .6865, June low. Higher will see room to .7120 Fibonacci level and the .7150/.7200 congestion.