Published: 2025-04-09T07:18:16.000Z
Chart AUD/NZD Update: Range-bound in consolidation from 1.0700 low
Technical Analyst
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Turned up from fresh year low at 1.0700 level as prices consolidate sharp drop from the 1.1030 high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | * | congestion, Jan low | S1 | 1.0725 | * | Jun low | |
| R3 | 1.0933 | ** | Dec low | S2 | 1.0700 | ** | 7 Apr YTD low | |
| R2 | 1.0910 | * | 21 Mar low | S3 | 1.0650 | * | congestion | |
| R1 | 1.0850 | * | congestion | S4 | 1.0570/60 | ** | 2024/2023 year lows |
Asterisk denotes strength of level
07:15 GMT - Turned up from fresh year low at 1.0700 level as prices consolidate sharp drop from the 1.1030 high of last week. Intraday and daily studies have turned up from oversold readings to consolidate around the 1.0800 level. Nearby see resistance starting at 1.0850 then the strong resistance at the 1.0910/1.0933, previous lows. The latter is expected to cap and give way to selling pressure later. Meanwhile, support is raised to the 1.0750/1.0725, congestion and June low. Below this will open up room for retest of the 1.0700 low and extend losses from the November 2024 year high.