Published: 2026-07-07T07:10:18.000Z
Chart AUD/NZD Update: Higher in consolidation from 1.2130 low
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Consolidation at the 1.2130 low has given way to gains to retest the 1.2200 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2300 | * | congestion | S1 | 1.2130 | * | 2 Jul low | |
| R3 | 1.2285 | ** | 26 May YTD high | S2 | 1.2050 | ** | 10 Jun low | |
| R2 | 1.2255 | * | 22 Jun high | S3 | 1.2000 | * | congestion | |
| R1 | 1.2200 | ** | 8 Apr high, congestion | S4 | 1.1980 | ** | Jun low |
Asterisk denotes strength of level
07:05 GMT - Consolidation at the 1.2130 low has given way to gains to retest the 1.2200 level. Daily studies have turned positive and suggest room for further gains to the 1.2255 June high which is expected to cap. Clearance here, if seen, will expose the 1.2285 May current year high to retest and further extend strong gains from the April 2025 year low. Higher will see room to 1.2300/45 congestion and 61.8% Fibonacci level. Meanwhile, support is raised to the 1.2150/30 congestion and 2 July low which should underpin. Only break here will open up room for deeper pullback to retrace gains from 1.1980 June low.