Published: 2025-01-21T15:02:28.000Z
Chart AUD/USD Update: Consolidating - background studies improving
Senior Technical Strategist
1
Anticipated gains have met selling interest beneath congestion resistance at 0.6300
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6475 | ** | 61.8% ret of Nov-Jan fall | S1 | 0.6200 | ** | congestion | |
| R3 | 0.6400 | ** | break level | S2 | 0.6131 | * | 13 Jan YTD low | |
| R2 | 0.6350 | break level | S3 | 0.6100 | ** | 76.4% ret of 2020-2021 rally | ||
| R1 | 0.6300 | ** | congestion | S4 | 0.6000 | ** | figure |
Asterisk denotes strength of level
14:50 GMT - Anticipated gains have met selling interest beneath congestion resistance at 0.6300, with mixed intraday studies prompting consolidation around 0.6245. Overbought daily stochastics are turning down, suggesting potential for a test lower. But the rising daily Tension Indicator and improving weekly charts are expected to limit any break below congestion support at 0.6200 in renewed buying interest above the 0.6131 current year low of 13 January and the 0.6100 Fibonacci retracement. Meanwhile, a close above 0.6300 would improve sentiment and extend gains towards 0.6350.