Chart AUD/USD Update: Consolidating test to marginal fresh year high
Test of the .7187 March high has seen extension to marginal fresh year high at .7197 before settling back in consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7300 | * | congestion | S1 | 0.7100 | * | congestion | |
| R3 | 0.7280 | * | Jun 2022 high | S2 | 0.7050 | * | congestion | |
| R2 | 0.7210 | * | 61.8% 2021/2025 fall | S3 | 0.7000 | ** | figure, congestion | |
| R1 | 0.7197 | ** | 16 Apr YTD high | S4 | 0.6950 | ** | congestion |
Asterisk denotes strength of level
00:15 GMT - Test of the .7187 March high has seen extension to marginal fresh year high at .7197 before settling back in consolidation to unwind overbought intraday studies. Daily studies are stretched as well and suggest scope for pullback to consolidate recent strong gains from the .6833 March low towards support at the .7100 level. Below here will open up room for pullback to the .7050/.7000 area. Consolidation is expected to give way to renewed buying interest later to extend the underlying bull trend from the April 2025 year low. Higher will see room to .7210, 61.8% Fibonacci retracement.