Published: 2025-05-08T07:41:19.000Z
Chart AUD/NZD Update: Consolidating, room for higher later
Technical Analyst
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Remains in consolidation below 1.0850 resistance and 38.2% Fibonacci level as prices consolidate rally from the 1.0650, April YTD low.
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | ** | Jan low, congestion | S1 | 1.0800 | * | congestion | |
| R3 | 1.0930 | ** | Dec low | S2 | 1.0780 | * | Sep low | |
| R2 | 1.0910 | * | 21 Mar low, 50% | S3 | 1.0750 | * | congestion | |
| R1 | 1.0850 | * | congestion, 38.2% | S4 | 1.0700 | * | congestion |
Asterisk denotes strength of level
07:30 GMT - Remains in consolidation below 1.0850 resistance and 38.2% Fibonacci level as prices consolidate rally from the 1.0650, April YTD low. Pullback see support at the 1.0800/1.0780 area which is expected to underpin and sustain gains from the 1.0650, April YTD low. Cnsolidation expected to give way to renewed buying interest later and break above 1.0850 will see room for further extend gains to retrace the steep February/April losses to strong resistance at 1.0910, 50% Fibonacci level. Higher still, will see scope to the strong resistance at 1.0930/1.1000 resistance.