Chart AUD/USD Update: Room to extend gains
Pressing higher from the .6865 low as prices consolidate recent losses from the mid-June high to reach .6950 last Friday
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7050 | * | congestion | S1 | 0.6900 | * | congestion | |
| R3 | 0.7000 | ** | congestion | S2 | 0.6865 | ** | Jun low | |
| R2 | 0.6980 | * | 11 Jun low | S3 | 0.6833 | ** | Mar low | |
| R1 | 0.6950 | * | congestion | S4 | 0.6800 | * | congestion |
Asterisk denotes strength of level
00:20 GMT - Pressing higher from the .6865 low as prices consolidate recent losses from the mid-June high to reach .6950 last Friday. Daily studies have turned higher from oversold areas and suggest room for further gains ahead towards strong resistance at the at the .6980/.7000 area. Would take break here to revive upside focus and open up room to .7080/7100 resistance. Meanwhile, support at the .6900/.6865 congestion and low of last week should underpin. Failure here will extend the May losses and see scope for extension to retest the .6833 Mar low and further retrace gains from the April 2025 year low.