Published: 2025-04-08T00:25:25.000Z
Chart AUD/USD Update: Limited on bounce attempt
Technical Analyst
3
Consolidating at the .6000 level after bounce attempt was rejected at the .6087/.6131, February/January lows
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6260 | * | congestion | S1 | 0.5930 | ** | 7 Apr YTD low | |
| R3 | 0.6200 | ** | congestion | S2 | 0.5870 | * | 26 Mar 2020 low | |
| R2 | 0.6131 | * | Jan low | S3 | 0.5700 | * | congestion | |
| R1 | 0.6087 | * | Feb low | S4 | 0.5510 | ** | Mar 2020 multi-year low |
Asterisk denotes strength of level
00:10 GMT - Consolidating at the .6000 level after bounce attempt was rejected at the .6087/.6131, February/January lows. Intraday studies remains oversold and suggest scope for retest here. Would take break here to ease the downside pressure and see room for stronger bounce to the strong resistance at the .6200 congestion. However, the negative daily and weekly studies suggest corrective bounce to give way to further losses later. Below the .5930 low will see room for extension to support at .5870/00 and the .5700 congestion.