Chart AUD/USD Update: Choppy in range
The fresh test below 0.7065 has posted a bounce from 0.7030~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7280~ | ** | June 2022 high | S1 | 0.7065 | * | 10-11 Feb lows | |
| R3 | 0.7200 | ** | 61.8% ret of 2021-2025 fall | S2 | 0.7000 | * | congestion | |
| R2 | 0.7147/55~ | ** | 12 Feb YTD high; Feb 2023 (y) high | S3 | 0.6900 | ** | break level | |
| R1 | 0.7100 | break level | S4 | 0.6800 | break level |
Asterisk denotes strength of level
09:25 GMT - The fresh test below 0.7065 has posted a bounce from 0.7030~, as intraday studies turn higher, with prices currently trading around 0.7075. Continuation towards resistance at 0.7100 cannot be ruled out. But daily readings are mixed/negative and overbought weekly stochastics are flattening, suggesting any immediate tests could give way to fresh consolidation, before the positive weekly Tension Indicator and rising longer-term charts prompt further gains. A close above critical resistance at 0.7147/55~ would turn sentiment positive and confirm continuation of April 2025 gains. Meanwhile, a break back below 0.7065 should meet renewed buying interest above 0.7000.