Published: 2025-06-03T13:41:33.000Z
Chart AUD/USD Update: Range extension
Senior Technical Strategist
4
The test of congestion resistance at 0.6500 is giving way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | ** | congestion | S1 | 0.6450 | congestion | ||
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6400 | * | break level | |
| R2 | 0.6537 | 26 May YTD high | S3 | 0.6360 | break level | |||
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | ** | congestion |
Asterisk denotes strength of level
14:25 BST - The test of congestion resistance at 0.6500 is giving way to a pullback, as overbought intraday studies unwind, with prices currently trading around 0.6455. Daily readings have turned mixed/negative, suggesting room for further tests lower. But rising weekly charts should limit scope in renewed buying interest/consolidation towards 0.6400. Meanwhile, a close above 0.6500 is needed to turn sentiment positive and extend April gains beyond the 0.6537 current year high of 26 May towards the 0.6550 Fibonacci retracement