Published: 2025-05-06T00:22:22.000Z
Chart AUD/USD Update: Consolidating below .6500, room for higher later
Technical Analyst
1
Break above the .6450 high of April has seen extension to approach the .6500 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | * | 76.4% Sep/Apr fall | S1 | 0.6450 | * | Apr high | |
| R3 | 0.6600 | * | congestion | S2 | 0.6408/00 | ** | Feb high, congestion | |
| R2 | 0.6550 | * | 61.8% Sep/Apr fall | S3 | 0.6345 | * | 24 Apr low | |
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | * | congestion |
Asterisk denotes strength of level
00:15 GMT - Break above the .6450 high of April has seen extension to approach the .6500 level. Consolidation here see prices unwinding the stretched intraday studies but this is expected to give way to further gains later. Above the .6500 resistance will open up room for extension of the rally from the April low to the .6550, 61.8% Fibonacci retracement. Meanwhile, support is raised to the .6450 high of April. Below here will open up room fo deeper corrective pullback to the .6408/00, February high and congestion area, which is expected to underpin and sustain gains from .5913 low.