Published: 2025-02-20T08:23:04.000Z
Chart AUD/NZD Update: Focus remains on the 1.1150/1.1180 highs
Technical Analyst
-
Settled back in consolidation after failing to sustain break of the 1.1150/55 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1250 | * | 76.4% 2022 fall | S1 | 1.1100 | * | Jan high | |
| R3 | 1.1200 | * | congestion | S2 | 1.1070 | * | 14 Feb low | |
| R2 | 1.1180 | ** | Nov 2024 year high | S3 | 1.1050 | * | congestion | |
| R1 | 1.1150/55 | * | congestion, Jul high | S4 | 1.1000 | ** | 30 Jan YTD low |
Asterisk denotes strength of level
08:20 GMT - Settled back in consolidation after failing to sustain break of the 1.1150/55 resistance. However, the upside stays in focus and further test here and the 1.1180 high cannot be ruled out. Above the latter, if seen, will extend the broader gains from the 2022 year low and see scope to target 1.1200 level then the 1.1250, 76.4% Fibonacci level. Meanwhile, support is raised to 1.1100 congestion which should underpin and sustain bounce from the 1.1070 higher low. The latter now protecting the downside and only failure here will open up room to 1.1050/1.1000 area.