Published: 2026-07-16T00:25:42.000Z
Chart AUD/USD Update: Room for further gains
1
Break above the .6980/.7000 resistance has given way extension to reach .7020, 38.2% Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7120 | * | 61.8% May/Jun fall | S1 | 0.6950 | * | congestion | |
| R3 | 0.7100 | ** | congestion | S2 | 0.6912/00 | * | 14 Jul low, congestion | |
| R2 | 0.7070/80 | * | 50%, May low | S3 | 0.6865 | ** | Jun low | |
| R1 | 0.7020 | * | 38.2% May/Jun fall | S4 | 0.6833 | ** | Mar low |
Asterisk denotes strength of level
00:20 GMT - Break above the .6980/.7000 resistance has given way extension to reach .7020, 38.2% Fibonacci retracement. Positive daily and weekly studies suggest consolidation here expected to give way to further gains later. Higher will see room to strong resistance at the .7080/.7100 May low and ongestion area where reaction is expected. Break here, if seen, will return focus to the .7200 level then .7278, May current year high. Meanwhile, support remains at .6950 congestion which should underpin and sustain gains from the .6865 low.