Published: 2026-08-06T05:39:03.000Z
Chart AUD/NZD Update: Extend corrective bounce
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Extend bounce from the 1.1915 low to reach the 1.2000 level as prices unwind the daily and weekly studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2130 | ** | 3 Jul low | S1 | 1.1915 | ** | 3 Aug low | |
| R3 | 1.2100 | * | congestion | S2 | 1.1900 | * | figure, congestion | |
| R2 | 1.2050 | * | congestion | S3 | 1.1850 | * | congestion | |
| R1 | 1.2000 | * | congestion | S4 | 1.1800 | * | congestion |
Asterisk denotes strength of level
05:30 GMT - Extend bounce from the 1.1915 low to reach the 1.2000 level as prices unwind the daily and weekly studies. Clearance here will see room for stronger gains within the bearish channel from the 1.2285 May current year high to resistance at 1.2050 congestion. Above here will open up room for retest of strong resistance at 1.2100/30 area where reaction can be expected. Corrective gains are expected to give way to renewed selling pressure later. Meanwhile, support remains at the 1.1930/1.1915 lows. Below here will extend the May losses to retrace strong rally from the April 2025 year low.