Published: 2025-07-08T00:21:57.000Z
Chart AUD/USD Update: Room for deeper corrective pullback
Technical Analyst
5
Break of the .6550 congestion has seen losses to reach .6485 low as prices unwind overbought daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | * | 76.4% Sep/Apr fall | S1 | 0.6485 | * | 7 Jul low | |
| R3 | 0.6600 | * | congestion | S2 | 0.6450 | * | congestion | |
| R2 | 0.6590 | ** | 1 Jul YTD high | S3 | 0.6400 | ** | congestion | |
| R1 | 0.6537/50 | * | 3 Jul low, congestion | S4 | 0.6372 | ** | Jun low |
Asterisk denotes strength of level
00:15 GMT - Break of the .6550 congestion has seen losses to reach .6485 low as prices unwind overbought daily studies. Bounce at the latter see prices consolidating losses from the .6590 high but daily studies are tracking lower and suggest room for deeper pullback later. Lower will see room to the .6450 support then the strong support at the .6400 level. Meanwhile, resistance is lowered to the .6537/.6550 previous lows and congestion area which is expected cap and keep pressure on the downside. Break here is needed to open up the .6590 high to retest and further extend April gains.