Published: 2024-12-18T15:09:28.000Z
Chart AUD/USD Update: Fresh year low - studies under pressure
Senior Technical Strategist
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Anticipated losses have posted a fresh 2024 year low around congestion support at 0.6300
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500 | * | congestion | S1 | 0.6300 | ** | congestion | |
| R3 | 0.6450 | break level | S2 | 0.6270 | ** | 26 Oct 2023 (y) low | ||
| R2 | 0.6400 | * | congestion | S3 | 0.6200 | ** | congestion | |
| R1 | 0.6350 | break level | S4 | 0.6170 | ** | October 2022 (y) low |
Asterisk denotes strength of level
14:45 GMT - Anticipated losses have posted a fresh 2024 year low around congestion support at 0.6300, before edging higher into fresh consolidation beneath resistance at the 0.6350 break level. Unwinding oversold intraday studies highlight potential for a test above here. But negative daily and weekly charts should limit scope in renewed selling interest beneath congestion around 0.6400. In the coming sessions, cautious trade is expected to give way to fresh losses. A later close below 0.6300 will extend September losses towards critical multi-month support at the 0.6270 year low of 26 October 2023.