Published: 2024-12-12T00:26:10.000Z
Chart AUD/USD Update: Consolidating break to fresh low
Technical Analyst
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Further extend losses through the .6348 low to reach fresh year low at .6336 before turning up in consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6550 | ** | 25 Nov high | S1 | 0.6336 | ** | 11 Dec YTD low | |
| R3 | 0.6500 | * | congestion | S2 | 0.6300 | * | congestion | |
| R2 | 0.6440/50 | * | 14 Nov low, congestion | S3 | 0.6270 | ** | 26 Oct 2023 year low | |
| R1 | 0.6400 | * | 4 Dec low | S4 | 0.6170 | ** | 13 Oct 2022 year low |
Asterisk denotes strength of level
00:15 GMT - Further extend losses through the .6348 low to reach fresh year low at .6336 before turning up in consolidation. Further losses are on hold for now as prices unwind oversold intraday studies. However, daily studies are still tracking lower and further losses not ruled out. Lower will open up further losses to the .6270, October 2023 year low. Lower still, but not expected, will shift focus to the .6170, 2022 year low. Meanwhile, resistance is lowered to the .6400 level and regaining this will open up stronger bounce to the .6440/50 congestion area.