Published: 2025-05-15T00:20:29.000Z
Chart AUD/USD Update: Settled back in range from retest of .6500
Technical Analyst
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Turned back from retest of the .6500 level as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6650 | * | congestion | S1 | 0.6408/00 | * | Feb high, congestion | |
| R3 | 0.6600 | * | congestion | S2 | 0.6355/45 | ** | 30, 24 Apr lows | |
| R2 | 0.6550 | * | 61.8% Sep/Apr rally | S3 | 0.6300 | * | congestion | |
| R1 | 0.6500/14 | ** | congestion, 7 May YTD high | S4 | 0.6285 | * | 38.2% Apr/May rally |
Asterisk denotes strength of level
00:010 GMT - Turned back from retest of the .6500 level as prices unwind overbought intraday studies. Daily studies have turned mixed and suggest consolidation likely to extend to support at .6400 congestion. Below this will expose support at the .6355/45 higher lows to retest but this is expected to underpin. Would take break here to open up room for deeper correction of the April/May rally to the .6300 level and .6285, 38.2% Fibonacci level. Break above .6500/14 resistance is needed to extend the April gains to .6550, 6.8% Fibonacci level.