Published: 2025-08-07T00:19:55.000Z
Chart AUD/USD Update: Extend corrective gains
Technical Analyst
3
Consolidation has turned up from the .6450 support to test the .6500 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6625 | ** | 24 Jul YTD high | S1 | 0.6450 | * | congestion | |
| R3 | 0.6595/00 | * | 11 Jul high, congestion | S2 | 0.6418 | * | 1 Aug low | |
| R2 | 0.6550 | * | 16 Jun high, congestion | S3 | 0.6400 | ** | congestion | |
| R1 | 0.6500 | * | congestion | S4 | 0.6355 | ** | May low, 38.2% |
Asterisk denotes strength of level
00:10 GMT - Consolidation has turned up from the .6450 support to test the .6500 level. Daily studies are unwinding oversold reading and suggest scope for break here to extend gains from the .6418 low of last week to resistance at the .6550 congestion. where renewed selling pressure can be expected. Meanwhile, support remains at the .6450 congestion which now underpin. Would take break here to return focus to the downside for retest of the .6418 low and see room to extend the July losses towards support at the .6400/.6355 area.