Published: 2024-12-18T00:24:08.000Z
Chart AUD/USD Update: Under pressure, scope to .6300
Technical Analyst
2
Still under pressure with prices reaching fresh year low at .6331
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6550 | ** | 25 Nov high | S1 | 0.6331 | * | 17 Dec YTD low | |
| R3 | 0.6500 | * | congestion | S2 | 0.6300 | * | congestion | |
| R2 | 0.6440/50 | * | 14 Nov low, congestion | S3 | 0.6270 | ** | 26 Ocr 2023 year low | |
| R1 | 0.6400 | * | 4 Dec low | S4 | 0.6170 | ** | 13 Oct 2022 year low |
Asterisk denotes strength of level
00:15 GMT - Still under pressure with prices reaching fresh year low at .6331. Negative daily and weekly studies keeps pressure firmly on the downside and see room for extension to the .6300 level. Reaction here is possible with intraday and daily studies stretched but bounce likely to remain limited. Break will turn focus to the .6270 and .6170, October 2023 year low and October 2022 year low. Meanwhile, resistance remains at the .6400 level. Would need to regain this to ease the downside pressure and open up room for the stronger bounce to the .6440/50 congestion area.