Published: 2025-05-07T00:18:55.000Z
Chart AUD/USD Update: Extending gains
Technical Analyst
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Breaking higher through the .6500 level as prices extend gains from the April low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | * | 76.4% Sep/Apr fall | S1 | 0.6450 | * | Apr high | |
| R3 | 0.6688 | * | Nov high | S2 | 0.6408/00 | ** | Feb high, congestion | |
| R2 | 0.6600 | * | congestion | S3 | 0.6345 | * | 24 Apr low | |
| R1 | 0.6550 | * | 61.8% Sep/Apr fall | S4 | 0.6300 | * | congestion |
Asterisk denotes strength of level
00:10 GMT - Breaking higher through the .6500 level as prices extend gains from the April low. Positive intraday and daily studies suggest potential for continuation to target .6550, 61.8% Fibonacci retracement. Higher still, will see room to the .6600 congestion. Meanwhile, support remains at the .6450 high of April and this is expected to underpin and sustain the break of the 2-week consolidation pattern. Failure to hold this will open up room fo deeper corrective pullback to the .6408/00, February high and congestion area.