Published: 2026-08-06T00:26:58.000Z
Chart AUD/USD Update: Edging higher
1
Edging higher above resistance at .7050 congestion as prices retrace the May/June losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7120 | * | 61.8% May/Jun fall | S1 | 0.7000 | * | figure, congestion | |
| R3 | 0.7100 | ** | congestion | S2 | 0.6950 | * | congestion | |
| R2 | 0.7080 | * | May low | S3 | 0.6922 | ** | 29 Jul low | |
| R1 | 0.7070 | * | 50% May/Jun fall | S4 | 0.6900 | * | congestion |
Asterisk denotes strength of level
00:20 GMT - Edging higher above resistance at .7050 congestion as prices retrace the May/June losses towards the 50% Fibonacci retracement at .7070. Positive daily and weekly studies keep pressure on the upside and break here will see room for extension to strong resistance at the .7080/.7100 congestion. Break above this area will be positive and turn focus to the .7200 congestion and .7278 May current year high. Meanwhile, support at the .7000/.6985 area now underpin and sustain gains from the .6922 low of last week.