Published: 2025-06-04T13:51:12.000Z
Chart AUD/USD Update: Back at range highs
Senior Technical Strategist
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Cautious trade has given way to a bounce towards congestion resistance at 0.6500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | ** | congestion | S1 | 0.6450 | congestion | ||
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6400 | * | break level | |
| R2 | 0.6537 | 26 May YTD high | S3 | 0.6360 | break level | |||
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | ** | congestion |
Asterisk denotes strength of level
14:40 BST - Cautious trade has given way to a bounce towards congestion resistance at 0.6500, with prices currently balanced around 0.6490. Intraday studies are rising and daily stochastics are positive, highlighting potential for a test above 0.6500. But the flat daily Tension Indicator is expected to limit initial scope in consolidation beneath the 0.6550 Fibonacci retracement, before rising weekly charts extend April gains still further. Meanwhile, support remains down to 0.6400 and should underpin any immediate setbacks.