Published: 2025-05-12T08:10:38.000Z
Chart AUD/USD Update: Further consolidation - studies under pressure
Senior Technical Strategist
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Little change, as the anticipated test of resistance at 0.6440 gives way to fresh consolidation above support at 0.6400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6400 | * | break level | |
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6360 | break level | ||
| R2 | 0.6500 | * | congestion | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6440 | * | break level | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
08:55 BST - Little change, as the anticipated test of resistance at 0.6440 gives way to fresh consolidation above support at 0.6400. Oversold daily stochastics suggest further sideways trade. But the bearish daily Tension Indicator and unwinding overbought weekly stochastics highlight room for fresh losses in the coming sessions. A close below support at the 0.6360 break level is needed to turn sentiment outright negative and signal a deeper correction of the April-May rally. Meanwhile, resistance within the broad 0.6440 - 0.6500 range should cap any immediate tests higher.