Published: 2025-05-09T07:16:03.000Z
Chart AUD/NZD Update: Extending gains from April low
Technical Analyst
-
Consolidation below 1.0850 resistance has given way to break higher to extend gains from the 1.0650, April YTD low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | ** | Jan low, congestion | S1 | 1.0800 | * | congestion | |
| R3 | 1.0970 | * | 61.8% Feb/Apr fall | S2 | 1.0780 | ** | Sep low | |
| R2 | 1.0930 | ** | Dec low | S3 | 1.0750 | * | congestion | |
| R1 | 1.0910 | * | 21 Mar low, 50% | S4 | 1.0700 | * | congestion |
Asterisk denotes strength of level
07:10 GMT - Consolidation below 1.0850 resistance has given way to break higher to extend gains from the 1.0650, April YTD low. Daily studies continues to track higher and see room to strong resistance at the 1.0910/1.0930, 50% Fibonacci level and December low. This area is expected to cap and give way to renewed selling pressure later. Meanwhile, support remains at the 1.0800/1.0780 area and break here will return focus to the downside for retest of the 1.0750/1.0700 congestion area then the 1.0650 low.