Published: 2025-01-23T15:19:32.000Z
Chart AUD/USD Update: Balanced trade
Senior Technical Strategist
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Still little change
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6475 | ** | 61.8% ret of Nov-Jan fall | S1 | 0.6200 | ** | congestion | |
| R3 | 0.6400 | ** | break level | S2 | 0.6131 | * | 13 Jan YTD low | |
| R2 | 0.6350 | break level | S3 | 0.6100 | ** | 76.4% ret of 2020-2021 rally | ||
| R1 | 0.6300 | ** | congestion | S4 | 0.6000 | ** | figure |
Asterisk denotes strength of level
15:1550 GMT - Still little change, as prices extend consolidation beneath congestion resistance at 0.6300. Intraday studies are under pressure and overbought daily stochastics are flattening, suggesting potential for a minor pullback in the coming sessions. But the positive daily Tension Indicator and improving weekly charts should limit scope in renewed buying interest above congestion support at 0.6200. Meanwhile, a close above 0.6300 will improve sentiment and extend January gains initially to 0.6350.