Chart AUD/USD Update: Focus remains on .7278, May YTD high
Consolidating at the .7200 level but pressure remains on the upside and see scope to extend bounce from the .7121 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7400 | * | congestion | S1 | 0.7150 | * | congestion | |
| R3 | 0.7300 | * | congestion | S2 | 0.7121 | ** | 2 Sep low | |
| R2 | 0.7278 | ** | 6 May YTD high | S3 | 0.7100 | * | congestion | |
| R1 | 0.7200/14 | * | congestion, 4 Sep high | S4 | 0.7080 | ** | May low |
Asterisk denotes strength of level
00:15 GMT - Consolidating at the .7200 level but pressure remains on the upside and see scope to extend bounce from the .7121 low of last week. Positive daily studies suggest scope for break higher to extend the broader gains from the .6865 June low for retest of .7278, May current year high, where reaction can be expected. A later break here will extend the bullish gains from the low of April 2025 to further retrace losses from the 2021 year high. Meanwhile, support at the .7150/.7121 congestion and low of last week is expected to underpin and sustain bullish gains from the June low.