Published: 2025-05-20T00:25:11.000Z
Chart AUD/USD Update: Higher in consolidation, focus on .6500/14 highs
Technical Analyst
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Consolidation at the .6400 level has given way to bounce to reach .6465 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6400 | * | congestion | |
| R3 | 0.6550 | * | 61.8% Sep/Apr rally | S2 | 0.6355/45 | ** | 30, 24 Apr lows | |
| R2 | 0.6500/14 | ** | congestion, 7 May YTD high | S3 | 0.6300 | * | congestion | |
| R1 | 0.6465 | * | 19 May high | S4 | 0.6285 | * | 38.2% Apr/May rally |
Asterisk denotes strength of level
00:20 GMT - Consolidation at the .6400 level has given way to bounce to reach .6465 high. Intraday studies have turned up from oversold readings and suggest room to extend bounce to retest .6400/.6414, level and 7 May YTD high. Clearance here will extend gains from the April current year low and further retrace the September/April fall. Higher will see room to .6550, 61.8% Fibonacci level. Meanwhile, support at the .6400/.6385 congestion area is expected to underpin. Failure here will expose strong support at the .6355/.6345 area to retest and threaten deeper corrective pullback.