Published: 2026-05-06T12:50:46.000Z
Chart AUD/USD Update: Attempting to break strong resistance at the 0.7200 Fibonacci retracement
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Cautious trade has given way to a fresh break higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7500 | ** | historic congestion | S1 | 0.7100 | congestion | ||
| R3 | 0.7400 | ** | historic congestion | S2 | 0.7050 | * | congestion | |
| R2 | 0.7280~ | ** | June 2022 high | S3 | 0.7000 | * | congestion | |
| R1 | 0.7200 | ** | 61.8% ret of 2021-2025 fall | S4 | 0.6960 | * | 1 Apr (w) high |
Asterisk denotes strength of level
13:40 BST - Cautious trade has given way to a fresh break higher, with prices currently trading above the 0.7200 multi-year Fibonacci retracement. Selling interest has appeared at the 0.7280~ high of June 2022, with prices currently trading around 0.7240. Daily readings are turning positive and broader weekly charts are improving, highlighting room for further gains in the coming sessions. But a close above 0.7200 is needed to improve price action and extend April 2025 gains beyond 0.7280. Meanwhile, support remains down to congestion around 0.7100, and should underpin any immediate setbacks.