Published: 2025-02-20T00:15:02.000Z
Chart AUD/USD Update: Extending consolidation below .6374 high
Technical Analyst
2
Little change, as prices extend consolidation below the .6374 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500/15 | * | congestion, 50% | S1 | 0.6330 | * | Jan high | |
| R3 | 0.6440 | * | 14 Nov low | S2 | 0.6300 | * | congestion | |
| R2 | 0.6400/15 | * | congestion, 38.2% | S3 | 0.6250/33 | ** | congestion, 10 Feb low | |
| R1 | 0.6374 | * | 17 Feb YTD high | S4 | 0.6200 | * | congestion |
Asterisk denotes strength of level
00:10 GMT - Little change, as prices extend consolidation within a narrow range below the .6374 high. The intraday and daily studies are unwinding overbought readings and suggest scope for corrective pullback to support at the .6330 high of January then the .6300 congestion. Break of these will open up room for deeper correction of gains from the .6087 low to the strong support at the .6250/33 area. Correction expected to give way to fresh buying interest later and lift over the .6374 high will see room for extension to the .6400/15 congestion and 38.2% Fibonacci retracement.