Published: 2026-06-16T13:53:36.000Z
Chart AUD/USD Update: Cautious trade
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Consolidation around 0.7075 has given way to a retest of congestion support at 0.7050
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7300 | ** | historic congestion | S1 | 0.7050 | * | congestion | |
| R3 | 0.7280 | ** | June 2022 (m) high | S2 | 0.7000 | * | congestion | |
| R2 | 0.7200 | ** | break level, 61.8% ret | S3 | 0.6900 | * | congestion | |
| R1 | 0.7100 | congestion | S4 | 0.6833 | ** | 30 Mar (m) low |
Asterisk denotes strength of level
14:45 BST - Consolidation around 0.7075 has given way to a retest of congestion support at 0.7050, before bouncing back into consolidation around 0.7075. Daily stochastics are rising and the bearish daily Tension Indicator is flattening, highlighting potential for a move higher to congestion resistance at 0.7100. But negative weekly charts should limit any further gains in renewed consolidation/range extension beneath strong resistance at 0.7200. Meanwhile, support remains at 0.7050. However, a close below 0.7000 is needed to turn sentiment negative and extend early-May losses towards further congestion around 0.6900.