Published: 2025-03-24T06:53:51.000Z
Chart AUD/NZD Update: Bounce correcting losses from February high
Technical Analyst
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Sharp bounce from the 1.0911 low see prices unwinding oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1100 | * | Jan high, congestion | S1 | 1.0933 | * | congestion, 38.2% | |
| R3 | 1.1050 | * | congestion | S2 | 1.0911/00 | ** | 21 Mar low, congestion | |
| R2 | 1.1000 | ** | Jan low, congestion | S3 | 1.0875 | * | 50% 2024 rally | |
| R1 | 1.0975 | * | 18 Mar high | S4 | 1.0850 | * | 25 Sep low, congestion |
Asterisk denotes strength of level
07:45 GMT - Sharp bounce from the 1.0911 low see prices unwinding oversold intraday and daily studies. Gains are seen retracing sharp losses from 1.1170 February YTD high to reach towards resistance at the 1.0975/1.1000, congestion and January low. The latter is expected to cap and give way to fresh selling pressure later. Would take break of support at the 1.0933/1.0911 lows and the 1.0900 congestion to open up room for deeper pullback to retrace gains from the February 2024 low to the 1.0875, 50% Fibonacci level and 1.0850 support.