Published: 2025-03-20T07:53:11.000Z
Chart AUD/NZD Update: Potential for stronger bounce
Technical Analyst
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Turning higher from the 1.0912 intraday low as prices unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1050 | * | congestion | S1 | 1.0933 | * | congestion, 38.2% | |
| R3 | 1.1030 | * | May high | S2 | 1.0900 | * | congestion | |
| R2 | 1.1000 | ** | Jan low, congestion | S3 | 1.0875 | * | 50% 2024 rally | |
| R1 | 1.0975 | * | 18 Mar high | S4 | 1.0850 | * | 25 Sep low, congestion |
Asterisk denotes strength of level
07:45 GMT - Turning higher from the 1.0912 intraday low as prices unwind oversold intraday and daily studies. Bounce here see prices retrace sharp losses from 1.1170 February YTD high and see room to resistance starting at 1.0975 then the 1.1000 congestion and January low. The latter is expected to cap and give way to fresh selling pressure later. Would take break of support at the 1.0933/1.0912 lows and the 1.0900 congestion to open up room for extension to the 1.0875, 50% Fibonacci level and 1.0850 support.