Published: 2025-05-16T13:48:41.000Z
Chart AUD/USD Update: Consolidating - studies remain under pressure
Senior Technical Strategist
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Little change, as prices extend pressure on congestion support at 0.6400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6688 | ** | 7 Nov (m) high | S1 | 0.6400 | * | break level | |
| R3 | 0.6600 | * | congestion | S2 | 0.6360 | break level | ||
| R2 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6500 | * | congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:45 BST - Little change, as prices extend pressure on congestion support at 0.6400. Daily stochastics and the daily Tension Indicator continue to track lower, and overbought weekly stochastics are turning down, highlighting room for a later break towards 0.6360. A close beneath here will add weight to sentiment and put focus on congestion around 0.6300, where the rising weekly Tension Indicator and improving longer-term charts are expected to prompt fresh consolidation. Meanwhile, resistance remains strong at congestion around 0.6500 and should cap any immediate tests higher.