Chart AUD/USD Update: Limited tests lower
Choppy trade around critical resistance at the 0.6700 Fibonacci retracement is giving way to anticipated selling interest
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6900 | ** | break level | S1 | 0.6650 | congestion | ||
| R3 | 0.6800 | ** | break level | S2 | 0.6600 | ** | congestion | |
| R2 | 0.6750 | * | congestion | S3 | 0.6550 | * | congestion | |
| R1 | 0.6700 | ** | 76.4% ret of 2024-2025 fall | S4 | 0.6500 | * | congestion |
Asterisk denotes strength of level
09:00 GMT - Choppy trade around critical resistance at the 0.6700 Fibonacci retracement is giving way to anticipated selling interest, with prices currently trading around 0.6685. Negative intraday studies and deteriorating daily readings highlight room for further losses towards congestion support at 0.6650. However, rising weekly charts should limit any deeper losses in renewed buying interest/consolidation above congestion around 0.6600. Following cautious/corrective trade, fresh gains are looked for. A close back above 0.6700 will improve sentiment and extend April gains initially towards congestion around 0.6750. Beyond here is 0.6800.