Published: 2025-01-28T09:06:40.000Z
Chart AUD/USD Update: Leaning lower
Senior Technical Strategist
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Cautious trade is giving way to renewed selling interest
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6450 | break level | S1 | 0.6250 | * | break level | ||
| R3 | 0.6400/10 | ** | break level; 50% ret | S2 | 0.6200 | ** | congestion | |
| R2 | 0.6340/50 | * | 38.2% ret; break level | S3 | 0.6131 | * | 13 Jan YTD low | |
| R1 | 0.6300 | ** | congestion | S4 | 0.6100 | ** | 76.4% ret of 2020-2021 rally |
Asterisk denotes strength of level
09:00 GMT - Cautious trade is giving way to renewed selling interest, as intraday studies continue to track lower, with prices currently pressuring support at 0.6250. Overbought daily stochastics are unwinding and the rising daily Tension Indicator is flattening, suggesting potential for a test beneath here. Subsequent focus will then turn to congestion around 0.6200, where rising weekly charts are expected to prompt fresh buying interest/consolidation. Meanwhile, resistance is lowered to congestion around 0.6300. But a close above 0.6340/50 is needed to turn sentiment positive once again and extend January gains initially towards 0.6400/10.