Published: 2025-04-11T07:18:33.000Z
Chart AUD/NZD Update: Focus return to 1.0700 low
Technical Analyst
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Extending rejection from test of the 1.0900/10 resistance and break of the 1.0800 congestion return focus to the 1.0700 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0933/35 | ** | Dec low, 50% | S1 | 1.0725 | * | Jun low | |
| R3 | 1.0910 | * | 21 Mar low | S2 | 1.0700 | ** | 7 Apr low, congestion | |
| R2 | 1.0850 | * | congestion | S3 | 1.0665 | ** | 2022 trendline | |
| R1 | 1.0800 | * | congestion | S4 | 1.0650 | * | congestion |
Asterisk denotes strength of level
07:15 GMT - Extending rejection from test of the 1.0900/10 resistance and break of the 1.0800 congestion return focus to the 1.0700 low. Below this will see scope to the trendline from the December 2022 year low at 1.0665 where reaction is likely. However, consolidation is expected to give way to renewed selling pressure later to the 1.0650 congstion. Lower still will turn focus to 1.0570, February 2024 year low. Meanwhile, resistance is lowered to the 1.0800/1.0850 congestion area which is expected to cap and sustain losses from the 1.0900/10 resistance.