Chart AUD/NZD Update: Room to retest 1.1915 low
Break of support at the 1.2000/1.1980 area see prices extending losses from the 1.2100 high of last week to reach 1.1950 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2150 | * | Mar high, congestion | S1 | 1.1950 | * | congestion | |
| R3 | 1.2130 | ** | 3 Jul low | S2 | 1.1915 | ** | 3 Aug low | |
| R2 | 1.2100 | * | congestion | S3 | 1.1900 | * | congestion | |
| R1 | 1.2050 | * | congestion | S4 | 1.1850 | * | congestion |
Asterisk denotes strength of level
06:00 GMT - Break of support at the 1.2000/1.1980 area see prices extending losses from the 1.2100 high of last week to reach 1.1950 support. Negative daily studies suggest scope for break here expose the 3 August low at 1.1915 to retest. While reaction at the latter can be expected, bearish price action from the 1.2285 May current year high suggest scope for break to open up deeper pullback to retrace the 2025/2026 rally. Meanwhile resistance is lowered to the 1.1980/1.2000 June low and congestion area which is expected to cap and sustain losses from resistance at the 1.2100/30 lower highs.