Chart AUD/USD Update: Balanced in range
Little change, as prices extend cautious trade 0.6525
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6750 | * | congestion | S1 | 0.6500 | * | congestion | |
| R3 | 0.6700 | ** | 76.4% ret of Sep-Apr fall | S2 | 0.6450 | congestion | ||
| R2 | 0.6688 | ** | 7 Nov (m) high | S3 | 0.6400 | * | break level | |
| R1 | 0.6600 | ** | congestion | S4 | 0.6360 | ** | break level |
Asterisk denotes strength of level
14:25 BST - Little change, as prices extend cautious trade 0.6525. Intraday studies are rising, suggesting room for a test of 0.6550. But mixed/negative daily readings and deteriorating weekly charts should limit any extension beyond here in renewed selling interest beneath congestion around 0.6600. Meanwhile, support is at congestion around 0.6500. A later break beneath here will add weight to sentiment and extend losses initially to further congestion around 0.6450. remains down to 0.6450. A close beneath here will add weight to sentiment and open up 0.6400. However, a break below 0.6360 is needed to extend July losses and confirm a near-term top in place around 0.6600.