Published: 31/03/25 at 08:00 UTC
Chart AUD/USD Update: Leaning lower
Senior Technical Strategist
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Cautious trade beneath congestion resistance at 0.6300 is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | ** | break level | S1 | 0.6250 | * | break level | |
| R3 | 0.6385 | ** | 50% ret of Sep-Feb fall | S2 | 0.6200 | ** | congestion | |
| R2 | 0.6350 | intraday break level | S3 | 0.6131 | * | 13 Jan (m) low | ||
| R1 | 0.6300 | ** | congestion | S4 | 0.6100 | ** | 76.4% ret of 2020-2021 rally |
Asterisk denotes strength of level
08:50 BST - Cautious trade beneath congestion resistance at 0.6300 is giving way to a drift lower, as intraday studies turn down, with focus on support at the 0.6250 break level. Daily readings have turned down and overbought weekly stochastics are unwinding, highlighting room for a test beneath here. But the rising weekly Tension Indicator is expected to limit scope in renewed buying interest/consolidation towards congestion support at 0.6200. Meanwhile, a close above 0.6300, if seen, will help to stabilise price action and prompt consolidation beneath 0.6350.