Published: 2025-05-29T14:12:49.000Z
Chart AUD/USD Update: Range trade - daily studies under pressure
Senior Technical Strategist
1
Selling pressure has met buying interest just above support at 0.6400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6400 | * | break level | |
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6360 | break level | ||
| R2 | 0.6537 | 26 May YTD high | S3 | 0.6300 | ** | congestion | ||
| R1 | 0.6500 | * | congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
15:00 BST - Selling pressure has met buying interest just above support at 0.6400, as intraday studies turn higher, with prices currently balanced around 0.6450. Daily readings continue to track lower and overbought weekly stochastics are unwinding, highlighting room for a test below 0.6400 towards 0.6360. But a close beneath here is needed to turn sentiment negative and confirm a deeper correction of April-May gains. Meanwhile, resistance remains at congestion around 0.6500 and should cap any immediate tests higher.