Published: 2025-05-16T07:09:56.000Z
Chart AUD/NZD Update: Settling back from test of 1.0910/30 resistance
Technical Analyst
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Settling back from test of strong resistance at 1.0910/1.0930, 50% Fibonacci level and December low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | ** | Jan low, congestion | S1 | 1.0850 | * | congestion | |
| R3 | 1.0970 | * | 61.8% Feb/Apr fall | S2 | 1.0800 | * | congestion | |
| R2 | 1.0930 | ** | Dec low | S3 | 1.0780 | ** | Sep low | |
| R1 | 1.0910 | * | 21 Mar low, 50% | S4 | 1.0750 | * | congestion |
Asterisk denotes strength of level
07:05 GMT - Settling back from test of strong resistance at 1.0910/1.0930, 50% Fibonacci level and December low, as prices unwind overbought intraday studies. Daily studies are overbought as well and caution pullback to support at 1.0850 congestion. Would take break here to open up room for deeper pullback to support at the 1.0800/1.0780 area. Below these will return focus to the downside for retest of the 1.0750/1.0700 congestion area then the 1.0650 low. Would take break of 1.0930 resistance to open up room to 1.0970/1.1000, 61.8% Fibonacci level and congestion.