Published: 2025-01-09T00:32:10.000Z
Chart AUD/USD Update: Weighing on .6200/.6179 lows
Technical Analyst
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Rejection from the .6270/.6300 resistance has seen prices returning to pressure the downside to retest the .6200/.6179 lows
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6200 | * | congestion | |
| R3 | 0.6348 | ** | Aug low | S2 | 0.6179 | ** | 31 Dec 2024 year low | |
| R2 | 0.6300 | * | congestion | S3 | 0.6170 | ** | Oct 2022 year low | |
| R1 | 0.6270 | * | Oct 2023 year low | S4 | 0.6100 | * | 76.4% 2020/2021 rally |
Asterisk denotes strength of level
00:20 GMT - Rejection from the .6270/.6300 resistance has seen prices returning to pressure the downside to retest the .6200/.6179 lows. Thias area and the 2022 year low at .6170 now marks key support. Failure to hold these will further extend the broad bearish trend from the 2021 high and see room to the .6100, 76.4% Fibonacci level. Meanwhile, resistance remains at the .6270/.6300 area continues to cap. Would need to clear this to ease the downside pressure and see room for stronger recovery to retrace losses from the September high.