Published: 2025-05-28T13:59:48.000Z
Chart AUD/USD Update: Leaning lower
Senior Technical Strategist
1
Cautious trade has given way to further losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6400 | * | break level | |
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6360 | break level | ||
| R2 | 0.6537 | 26 May YTD high | S3 | 0.6300 | ** | congestion | ||
| R1 | 0.6500 | * | congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:50 BST - Cautious trade has given way to further losses, with focus on support at 0.6400. Intraday studies are bearish and daily readings have turned down, highlighting room for a break towards 0.6360. However, already oversold intraday studies are expected to limit any immediate tests in consolidation. A close beneath here, however, will add weight to sentiment and confirm a deeper correction of April-May gains. Meanwhile, resistance remains at congestion around 0.6500 and should cap any immediate tests higher.