Published: 2025-05-08T13:43:32.000Z
Chart AUD/USD Update: Under pressure
Senior Technical Strategist
-
Anticipated losses have extended to support at 0.6400
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6400 | * | break level | |
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6360 | break level | ||
| R2 | 0.6500 | * | congestion | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6440 | * | break level | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:35 BST - Anticipated losses have extended to support at 0.6400, where short-term consolidation is developing. Intraday studies are falling and daily readings have turned down, highlighting room for still deeper losses in the coming sessions towards 0.6360. A further close beneath here will turn sentiment outright negative and signal a deeper correction of the April-May rally. Meanwhile, resistance is lowered to 0.6440 and extends to congestion around 0.6500. A close into this range will turn sentiment neutral and give way to fresh consolidation.