Published: 2024-12-03T00:22:56.000Z
Chart AUD/USD Update: Consolidating retest of .6440/34 lows
Technical Analyst
-
No follow-through on retest the .6440/34 low as prices extend choppy trade within a 3-week range area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6650 | * | congestion | S1 | 0.6440/34 | ** | 14, 26 Nov lows | |
| R3 | 0.6600/22 | * | congestion, Sep low | S2 | 0.6400 | * | figure | |
| R2 | 0.6550 | ** | 25 Nov high | S3 | 0.6348 | ** | 5 Aug YTD low | |
| R1 | 0.6528 | * | 29 Nov high | S4 | 0.6300 | * | congestion |
Asterisk denotes strength of level
00:15 GMT - No follow-through on retest the .6440/34 low as prices extend choppy trade within a 3-week range area. However, the bearish structure see risk for break later to further extend losses from the September high. Lower will see room to the .6400 figure and below here will return focus to the .6362 and .6348, April/August lows. Meanwhile, resistance at the .6528 and .6550 lower highs seen capping. Would need to clear these to confirm a double bottom in place at the .6440/34 lows and turn focus higher to retrace the September/November losses.