Published: 2026-06-02T07:31:05.000Z
Chart AUD/NZD Update: Higher to consolidate sharp losses last week
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Bounce from the 1.1980 low see prices consolidating sharp losses from the 1.2285 high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2285 | ** | 26 May YTD high | S1 | 1.2050 | congestion | ||
| R3 | 1.2200 | * | 8 Apr high, congestion | S2 | 1.1980 | ** | 1 Jun low | |
| R2 | 1.2150 | * | Mar high | S3 | 1.1930 | * | 27 Mar low | |
| R1 | 1.2100 | * | congestion | S4 | 1.1800 | ** | congestion |
Asterisk denotes strength of level
07:20 GMT - Bounce from the 1.1980 low see prices consolidating sharp losses from the 1.2285 high of last week to unwind oversold intraday studies. Daily chart are stretched as well, but corrective bounce is expected to give way to renewed selling pressure later with resistance starting at the 1.2100 congestion. Higher will see room to the 1.2150/1.2200 March high and congestion area which are expected to cap. Meanwhile, support is raised to 1.2050 congestion. Below this will open up room for retest of the 1.2000 figure and 1.1980 low. Break of the latter will see room to support at 1.1930/1.1870 area.