Published: 2024-12-12T07:47:39.000Z
Chart AUD/NZD Update: Extending gains from 1.0935 Fibonacci support
Technical Analyst
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Break above the 1.1000 level see prices extending gains from the 1.0935 Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1180 | ** | 22 Nov YTD high | S1 | 1.1000 | * | figure, congestion | |
| R3 | 1.1150/55 | * | congestion, Jul high | S2 | 1.0950 | * | congestion | |
| R2 | 1.1090 | ** | Oct high | S3 | 1.0935 | * | 61.8% Sep/Nov rally | |
| R1 | 1.1050 | * | congestion | S4 | 1.0900 | * | congestion |
Asterisk denotes strength of level
07:35 GMT - Break above the 1.1000 level see prices extending gains from the 1.0935 Fibonacci level to retrace losses from the 1.1180 November YTD high. Daily studies have turned up from oversold readings and see pressure returning to resistance at the 1.1050 congestion then the 1.1090, October high. Gains above the latter will return focus to the 1.1150 resistance then the 1.1180 high. Meanwhile, support is raised to the 1.1000 level which should underping and sustain bounce from the 1.0935/1.0933 support/low area.