Published: 2025-01-21T07:58:16.000Z
Chart AUD/NZD Update: Turned back from retest of 1.1100 high
Technical Analyst
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Lower in consolidation from test of the 1.1100 level last week but choppy trade sustaining bullish gains from the 1.0933, December low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1200 | * | congestion | S1 | 1.1050 | * | congestion | |
| R3 | 1.1180 | ** | Nov 2024 year high | S2 | 1.1015 | * | 14 Jan low | |
| R2 | 1.1150/55 | * | congestion, Jul high | S3 | 1.1000 | * | congestion | |
| R1 | 1.1100 | ** | 3 Jan high | S4 | 1.0933 | ** | Dec low |
Asterisk denotes strength of level
07:45 GMT - Lower in consolidation from test of the 1.1100 level last week but choppy trade sustaining bullish gains from the 1.0933, December low. However, daily studies have turned mixed and threaten pullback to retest the 1.1015/1.1000 support. Would take break here to fade the upside pressure and see room for pullback to retest 1.0950 congestion then the 1.0933 low. Meanwhile, resistance at the 1.1090/1.1100 highs expected to cap. Clearance here, if seen, will turn focus to the 1.1150 and 1.1180, July/November highs.