Published: 2025-04-16T00:18:49.000Z
Chart AUD/USD Update: Consolidating, scope for break later
Technical Analyst
2
Break above the .6300 level and .6330 resistance has seen gains to approach the .6400 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500 | * | congestion | S1 | 0.6300 | * | congestion | |
| R3 | 0.6440/50 | * | 14 Nov low, congestion | S2 | 0.6260 | * | 11 Mar low, congestion | |
| R2 | 0.6425 | * | 38.2% Sep/Apr fall | S3 | 0.6200 | * | congestion | |
| R1 | 0.6400/08 | ** | congestion, Feb YTD high | S4 | 0.6131/00 | ** | Jan low, congestion |
Asterisk denotes strength of level
00:10 GMT - Break above the .6300 level and .6330 resistance has seen gains to approach the .6400 level before settling back in consolidation as prices unwind the overbought intraday studies. Bullish momentum from the .5913 low of last week suggest scope for break here to further retrace losses from the September high. Above the .6400/08 resistance will see room to ther .6425/.6450, 38.2% Fibonacci level and congestion area from November. Meanwhile, support is raised to .6300 level which extend to the .6260 congestion. This area is expected to underpin and sustain gains from the 9 April YTD low.