Published: 2025-02-27T00:29:44.000Z
Chart AUD/USD Update: Under pressure, room for lower
Technical Analyst
2
Break of support at .6330 has seen extension of pullback from the .6408 high to reach the .6300 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500/15 | * | congestion, 50% | S1 | 0.6300 | * | congestion | |
| R3 | 0.6440 | * | 14 Nov low | S2 | 0.6250/33 | * | congestion, 10 Feb low | |
| R2 | 0.6400/15 | ** | congestion, 38.2% | S3 | 0.6200 | * | congestion | |
| R1 | 0.6330 | * | Jan high | S4 | 0.6131 | * | Jan low |
Asterisk denotes strength of level
00:10 GMT - Break of support at .6330 has seen extension of pullback from the .6408 high to reach the .6300 level. Negative daily studies weighs and see risk for break here to open up room for deeper correction of the rally from the February YTD low at .6087. Lower will see room to the strong support at the .6250/.6233 area and possibly the .6200 level. However, losses are seen corrective and expected to give way to renewed buying interest later to retest the .6400/15 resistance. Clearance here will open up room to .6440 then .6500/15, congestion and 50% Fibonacci level.