Published: 2024-11-07T07:51:26.000Z
Chart AUD/NZD Update: Retest 1.1075/90, October highs
Technical Analyst
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Extending bounce from the 1.0965 low and break above 1.1050 resistance return focus to the 1.1075/90, October highs
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1200 | * | congestion | S1 | 1.1000 | * | congestion | |
| R3 | 1.1155 | ** | 17 Jul YTD high | S2 | 1.0965 | ** | 30 Oct low | |
| R2 | 1.1090 | * | 9 Oct high | S3 | 1.0950 | * | congestion | |
| R1 | 1.1075 | * | 18 Oct high | S4 | 1.0900 | * | congestion |
Asterisk denotes strength of level
07:45 GMT - Extending bounce from the 1.0965 low and break above 1.1050 resistance return focus to the 1.1075/90, October highs. Break of the latter will trigger extension of gains from the September low at 1.0780 for retest of 1.1155, July YTD high. Reaction at the latter can be expected to unwind the overbought daily studies. A later break here will see room for extension to the 1.1200, October 2022 congestion. Meanwhile, support is raised to the 1.1000 level which should underpin and sustain gains from the 1.0965, 30 October low.