Published: 2025-01-22T00:23:03.000Z
Chart AUD/USD Update: Consolidating test of .6270/.6300 resistance
Technical Analyst
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Little change, as prices extend consolidation at the .6270/.6300 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6440 | * | 14 Nov low, 38.2% | S1 | 0.6200 | * | congestion | |
| R3 | 0.6400 | * | congestion | S2 | 0.6170 | * | 2022 year low | |
| R2 | 0.6348/62 | * | Aug/Apr lows | S3 | 0.6131 | ** | 13 Jan YTD low | |
| R1 | 0.6300 | * | congestion | S4 | 0.6100 | * | 76.4% 2020/2021 rally |
Asterisk denotes strength of level
00:15 GMT - Little change, as prices extend consolidation at the .6270/.6300 resistance. However, positive daily studies keeps pressure on the upside as prices trace out a potential 5-week bottom pattern at the .6131 low. Clearance here will see room for stronger recovery to retrace the sharp losses from the September high and see room to resistance at the .6348/.6362 previous lows then the .6400 level. Meanwhile, support remains at the .6250/.6200 area which is expected to underpin and sustain gains from the .6131 low.