Published: 03/04/25 at 06:05 UTC
Chart AUD/NZD Update: Extending losses
Technical Analyst
4
Under pressure to extend sharp losses from the 1.1030 high of Tuesday
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1050 | * | congestion | S1 | 1.0910/00 | ** | 21 Mar YTD low, congestion | |
| R3 | 1.1030 | ** | 1 Apr high | S2 | 1.0875 | * | 50% 2024 rally | |
| R2 | 1.1000 | * | congestion | S3 | 1.0850 | * | 25 Sep low | |
| R1 | 1.0950/60 | * | congestion | S4 | 1.0800 | * | congestion |
Asterisk denotes strength of level
06:00 GMT - Under pressure to extend sharp losses from the 1.1030 high of Tuesday. Daily studies have turned down from overbought readings and break of the 1.0933 support opens up the 1.0910, 21 March YTD low and the June trendline to retest. Break here will see deeper pullback to retrace the February/November 2024 rally and see room to 1.0875, 0% Fibonacci level. Lower still, will see room to 1.0850/1.0800 support. Meanwhile, resistance is lowered to the 1.0950/60 congestion area which is expected to cap and sustain losses from the 1.1030 high.