Published: 2025-01-02T01:17:27.000Z
Chart AUD/USD Update: Consolidating above .6179, 2024 year low
Technical Analyst
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Saw break to fresh low to reach .6179 on the last day 2024
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6179 | ** | 31 Dec 2024 year low | |
| R3 | 0.6348 | ** | Aug low | S2 | 0.6170 | ** | 13 Oct 2022 year low | |
| R2 | 0.6300 | * | congestion | S3 | 0.6100 | * | 76.4% 2020/2021 rally | |
| R1 | 0.6270 | ** | Oct 2023 low | S4 | 0.6000 | * | figure |
Asterisk denotes strength of level
01:10 GMT - Saw break to fresh low to reach .6179 on the last day 2024. Bounce there see prices consolidating at the .6200 level and unwinding oversold intraday studies. The downside remains vulnerable and further losses cannot be ruled out to retest .6170, the 2022 year low. Below the latter will open up further slide to the .6100 level. However, negative daily and weekly studies are deep into oversold areas and caution corrective bounce with the 2023 year low at .6270 now resistance. Would need lift over this and the .6300 level to ease the downside pressure and see room for stronger corrective bounce.