Published: 2025-04-14T13:30:37.000Z
Chart AUD/USD Update: Recent gains giving way to cautious trade
Senior Technical Strategist
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The anticipated test of congestion resistance at 0.6300 has extended to 0.6340
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500 | * | congestion | S1 | 0.6200 | ** | congestion | |
| R3 | 0.6425 | ** | 50% ret of Sep-Apr fall | S2 | 0.6000 | ** | historic congestion | |
| R2 | 0.6400 | ** | break level | S3 | 0.5913 | * | 9 Apr YTD low | |
| R1 | 0.6300 | ** | congestion | S4 | 0.5700 | * | late-Mar 2020 (w) low |
Asterisk denotes strength of level
14:20 BST - The anticipated test of congestion resistance at 0.6300 has extended to 0.6340, where unwinding overbought intraday studies are prompting selling interest and a break back below 0.6300. A pullback is possible, in the coming sessions, but rising daily readings and positive weekly charts are expected to limit losses in renewed buying interest above congestion support at 0.6200. Meanwhile, a close above 0.6300, not yet seen, will open up stronger resistance at 0.6400/25, but by-then overbought daily stochastics could limit any initial tests in consolidation.