Published: 2024-09-10T00:24:27.000Z
Chart AUD/USD Update: Weighing on .6650/40 support, risk of break
Technical Analyst
1
Under pressure as prices extend pullback from the .6824 high to weigh on the .6650/40 support and 38.2% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6824 | * | 29 Aug high | S1 | 0.6650/40 | ** | congestion, 38.2% | |
| R3 | 0.6800 | ** | Jul high | S2 | 0.6600 | * | figure, congestion | |
| R2 | 0.6750 | * | congestion | S3 | 0.6585/75 | * | 50% Aug rally, Jun low | |
| R1 | 0.6700 | * | congestion | S4 | 0.6550 | * | congestion |
Asterisk denotes strength of level
00:15 GMT - Under pressure as prices extend pullback from the .6824 high to weigh on the .6650/40 support and 38.2% Fibonacci level. Stretched intraday studies suggest pause here possible though the downside still vulnerable and break here will see room for extension to the .6600 level. Lower will see scope to strong support at .6585/75, 50% Fibonacci level and June low. Meanwhile, resistance is lowered to the .6685/.6700 recent lows and neckline of the .6824 top pattern, now expected to cap. Break here needed to fade the downside pressure and revive upside focus.