Chart AUD/NZD Update: Higher in consolidation from 1.1950 low
Edged up from the 1.1950 support as prices consolidate losses from the 1.2100 high and unwind oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2150 | * | Mar high, congestion | S1 | 1.1980 | * | Jun low | |
| R3 | 1.2130 | ** | 3 Jul low | S2 | 1.1950 | * | congestion | |
| R2 | 1.2100 | * | congestion | S3 | 1.1915 | ** | 3 Aug low | |
| R1 | 1.2050 | * | congestion | S4 | 1.1900 | * | congestion |
Asterisk denotes strength of level
07:20 GMT - Edged up from the 1.1950 support as prices consolidate losses from the 1.2100 high and unwind oversold intraday studies. The resulting flag pattern and negative daily studies suggest consolidation giving way to fresh selling pressure later. Lower will open up room for retest of the 3 August low at 1.1915 where reaction can be expected. However, bearish price action from the 1.2285 May current year high highlights risk for break later to open up room for deeper pullback to retrace the 2025/2026 rally. Meanwhile resistance remains at the 1.2000/1.2050 congestion and this is expected to cap and sustain losses from the 1.2100/30 highs.