Published: 2026-10-16T00:33:50.000Z
Chart AUD/USD Update: Consolidating retest of .6900 support
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Break of support at .6950 congestion extend rejection from the .7013 high of Wednesday to reach the .6900 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7080 | ** | May low, congestion | S1 | 0.6900 | * | congestion, channel | |
| R3 | 0.7050 | * | congestion | S2 | 0.6865 | ** | Jun low | |
| R2 | 0.7000 | * | congestion | S3 | 0.6833 | ** | Mar low | |
| R1 | 0.6950 | * | congestion | S4 | 0.6800 | * | figure |
Asterisk denotes strength of level
00:20 GMT - Break of support at .6950 congestion extend rejection from the .7013 high of Wednesday to reach the .6900 support. Break here will extend the losses from the Septemer high and see room to retest strong support at the .6865 and .6833, June and March low where reaction can be expected. Break of these, if seen, will confirm large top pattern at the .7278 May current year high and further retrace the 2025/2026 rally. Meanwhile, resistance is at the .6950 congestion. Regaining this will ease the downside pressure and see return to the .6950/.7000 range area.