Published: 2025-03-06T00:26:10.000Z
Chart AUD/USD Update: Extending gains
Technical Analyst
-
Sharply higher through the strong resistance at .6300/30 to approach congestion at .6350
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500/15 | * | congestion, 50% | S1 | 0.6300 | * | congestion | |
| R3 | 0.6440 | * | 14 Nov low | S2 | 0.6250 | * | congestion | |
| R2 | 0.6400/15 | ** | congestion, 38.2% | S3 | 0.6187 | ** | 4 Mar low | |
| R1 | 0.6330 | * | congestion | S4 | 0.6131 | * | Jan low |
Asterisk denotes strength of level
00:10 GMT - Sharply higher through the strong resistance at .6300/30 to approach congestion at .6350. Daily studies remains positive and suggest scope to extend gains from the .6187 low. Clearance will see room to retest the .6400 congestion then the .6415, 38.2% Fibonacci level. Would expected reaction at the latter but break here not ruled out. Break will see strong recovery to retrace losses from the September high. Meanwhile, support is raised to the .6300 congestion which should now underpin and sustain rally from the .6187 low.