Published: 2025-05-16T00:19:36.000Z
Chart AUD/USD Update: Lower in consolidation
Technical Analyst
1
Edged lower in consolidation from the .6500 level as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6650 | * | congestion | S1 | 0.6400 | * | congestion | |
| R3 | 0.6600 | * | congestion | S2 | 0.6355/45 | ** | 30, 24 Apr lows | |
| R2 | 0.6550 | * | 61.8% Sep/Apr rally | S3 | 0.6300 | * | congestion | |
| R1 | 0.6500/14 | ** | congestion, 7 May YTD high | S4 | 0.6285 | * | 38.2% Apr/May rally |
Asterisk denotes strength of level
00:10 GMT - Edged lower in consolidation from the .6500 level as prices unwind overbought intraday studies. Daily studies have turned negative and suggest consolidation at the .6400 congestion to give way to break later. Below this will expose support at the .6355/45 higher lows to retest but this is expected to underpin. Would take break here to open up room for deeper correction to retrace the April/May rally to the .6300 level and .6285, 38.2% Fibonacci level. Meanwhile, resistance is lowered to .6450 and is expected to cap and sustain losses from the .6500/14 highs.