Published: 2025-03-25T07:45:48.000Z
Chart AUD/NZD Update: Correcting sharp losses from February high
Technical Analyst
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Extending bounce from the 1.0911 low as prices unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1150 | * | Jul high | S1 | 1.0933 | * | congestion, 38.2% | |
| R3 | 1.1100 | ** | Jan high, congestion | S2 | 1.0911/00 | ** | 21 Mar low, congestion | |
| R2 | 1.1050 | * | congestion | S3 | 1.0875 | * | 50% 2024 rally | |
| R1 | 1.1000 | ** | Jan low, congestion | S4 | 1.0850 | * | 25 Sep low, congestion |
Asterisk denotes strength of level
07:45 GMT - Extending bounce from the 1.0911 low as prices unwind oversold intraday and daily studies. Gains are seen correcting sharp losses from 1.1170 February YTD high to reach towards resistance at the 1.0975/1.1000, congestion and January low. The latter is expected to cap and give way to fresh selling pressure later. Meanwhile, support remains at the 1.0933/1.0911 lows. Break here and the 1.0900 congestion will open up room for deeper pullback to retrace gains from the February 2024 low to the 1.0875, 50% Fibonacci level and 1.0850 support.