Published: 2024-12-10T00:20:13.000Z
Chart AUD/USD Update: Turned up in consolidation from .6372 low
Technical Analyst
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Saw rebound from the .6372 low as prices unwind the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6550 | ** | 25 Nov high | S1 | 0.6400 | * | congestion | |
| R3 | 0.6528 | * | 29 Nov high | S2 | 0.6372 | * | 6 Dec low | |
| R2 | 0.6500 | * | congestion | S3 | 0.6362/48 | ** | Apr, 5 Aug YTD low | |
| R1 | 0.6440/50 | * | 14 Nov low, congestion | S4 | 0.6300 | * | congestion |
Asterisk denotes strength of level
00:10 GMT - Saw rebound from the .6372 low as prices unwind the oversold intraday studies. However, bounce failed to hold the .6440/50 resistance as prices settled into consolidation. Further weakness not ruled out though below support at the .6400 congestion and .6372 low see strong support nearby at .6362 and 6348, the April and 5 Aug YTD lows, where stronger reaction can be expected. Break above the .6440/50 resistance will open up stronger gains to the .6500 level then the strong resistance at the .6528/.6550 area.