Published: 2026-10-16T06:36:45.000Z
Chart AUD/NZD Update: Extending losses
1
Break of the 1.2315 low of 1st October confirm a double top at the 1.2490/1.2495 highs and see extension to pressure strong support at 1.2285/50
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2550 | * | congestion | S1 | 1.2285 | ** | May high | |
| R3 | 1.2490/95 | ** | Sep/14 Oct YTD highs | S2 | 1.2250 | * | congestion | |
| R2 | 1.2400 | * | congestion | S3 | 1.2200 | * | 50% Aug/Oct rally | |
| R1 | 1.2315/50 | * | 1 Oct low, congestion | S4 | 1.2150 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - Break of the 1.2315 low of 1st October confirm a double top at the 1.2490/1.2495 highs and see extension to pressure strong support at 1.2285/50, May high and congestion area. Daily and weekly studies are unwinding overbought readings and suggest scope for break here to open up room for deeper pullback to retrace gains from the 1.1915, August low. Lower will see room to 1.2200 congestion and 50% Fibonacci retracement. Meanwhile, resistance is lowered to 1.2315/1.2350 area which is expected to cap and sustain losses from the 1.2490/1.2495 highs.