Chart AUD/USD Update: Limited pullback from the .6625/00 resistance
No follow-through on break of support at the .6580/75 area as prices met with buying interest above support at the .6550 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700/07 | ** | congestion, 17 Sep YTD high | S1 | 0.6550 | * | congestion | |
| R3 | 0.6660 | * | 18 Sep high | S2 | 0.6520 | ** | 26 Sep low | |
| R2 | 0.6625 | ** | Jul high | S3 | 0.6500 | * | congestion | |
| R1 | 0.6600 | * | congestion | S4 | 0.6450 | * | congestion |
Asterisk denotes strength of level
00:15 GMT - No follow-through on break of support at the .6580/75 area as prices met with buying interest above support at the .6550 congestion. The resulting pin bar sets up room for retest of the .6600/.6625 resistance. However, negative daily studies suggest this expected to cap and give way to fresh selling interest later. Would take break of support at the .6550 congestion and .6520 low to extend the broader losses from the .6707 current year high. Would take break of the .6625 July high to open up room for retest of the .6650/60 resistance and see potential for retest of the .6707 high.