Published: 2024-12-10T07:16:31.000Z
Chart AUD/NZD Update: Limited corrective bounce
Technical Analyst
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Turned up from the 1.0935, 61.8% Fibonacci level, to consolidate losses from the 1.1180 November YTD high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1150/55 | * | congestion, Jul high | S1 | 1.0935 | * | 61.8% Sep/Nov rally | |
| R3 | 1.1090 | ** | Oct high | S2 | 1.0900 | * | congestion | |
| R2 | 1.1050 | * | congestion | S3 | 1.0850 | * | 25 Sep low | |
| R1 | 1.1000 | * | figure, congestion | S4 | 1.0800 | * | congestion |
Asterisk denotes strength of level
07:10 GMT - Turned up from the 1.0935, 61.8% Fibonacci level, to consolidate losses from the 1.1180 November YTD high and unwind the oversold intraday studies. Daily studies are stretched as well and strong correction above the 1.1000 level not ruled out. Higher will open up room to the 1.1050 congestion then the 1.1090, October high. However, Meanwhile, support at the 1.0935/33 Fibonacci level and intraday low now underpin. A later break here will open up room for deeper pullback to the 1.0900 congestion and 1.0850 support.