Published: 2025-04-08T06:54:49.000Z
Chart AUD/NZD Update: Consolidating spike to 1.0700 low
Technical Analyst
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Saw spike to reach fresh year low at 1.0700 level ahead of rebound as prices consolidate sharp drop from the 1.1030 high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | * | congestion, Jan low | S1 | 1.0780 | * | Sep low | |
| R3 | 1.0933 | ** | Dec low | S2 | 1.0725 | * | Jun low | |
| R2 | 1.0910 | * | 21 Mar low | S3 | 1.0700 | ** | 7 Apr YTD low | |
| R1 | 1.0850 | * | congestion | S4 | 1.0650 | * | congestion |
Asterisk denotes strength of level
06:50 GMT - Saw spike to reach fresh year low at 1.0700 level ahead of rebound as prices consolidate sharp drop from the 1.1030 high of last week. Intraday and daily studies have turned up from oversold readings and suggest room for stronger bounce to the 1.0850 congestion then the strong resistance at the 1.0910/1.0933, previous lows. The latter expected to cap and give way to selling pressure later. Meanwhile, support is raised to the 1.0780 September low. Below this will open up room for retest of the 1.0725/1.0700, June and Monday's low.