Published: 2025-02-21T08:15:16.000Z
Chart AUD/NZD Update: Extending rejection from 1.1150/1.1180 highs
Technical Analyst
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Break of the 1.1100 level extending pullback from test of the 1.1150/1.1180 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1250 | * | 76.4% 2022 fall | S1 | 1.1070 | * | 14 Feb low | |
| R3 | 1.1200 | * | congestion | S2 | 1.1050 | * | congestion | |
| R2 | 1.1180 | ** | Nov 2024 year high | S3 | 1.1000 | ** | 30 Jan YTD low | |
| R1 | 1.1150 | * | congestion | S4 | 1.0933 | ** | December low |
Asterisk denotes strength of level
08:10 GMT - Break of the 1.1100 level extending pullback from test of the 1.1150/1.1180 resistance. Daily studies are unwinding overbought readings and see scope for pullback to the 1.1070/1.1050 support and where break will open up room to retest the 1.1000 support and January YTD low. Below these will turn focus to the 1.0933, December low. Meanwhile, reistance at the 1.1150 and 1.1180 highs expected to cap. Clearance here needed to extend the broader gains from the 2022 year low to retrace the steep drop from September 2022 high.