Published: 2025-01-08T00:20:43.000Z
Chart AUD/USD Update: Limited gains as resistance at .6270/.6300 caps
Technical Analyst
1
Turned lower in range from Monday's test of the .6300 level with the resulting long upper wicks keeping pressure on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6200 | * | congestion | |
| R3 | 0.6348 | ** | Aug low | S2 | 0.6179 | ** | 31 Dec 2024 year low | |
| R2 | 0.6300 | * | congestion | S3 | 0.6170 | ** | Oct 2022 year low | |
| R1 | 0.6270 | * | Oct 2023 year low | S4 | 0.6100 | * | 76.4% 2020/2021 rally |
Asterisk denotes strength of level
00:10 GMT - Turned lower in range from Monday's test of the .6300 level with the resulting long upper wicks keeping pressure on the downside and threatening retest of support at the .6200 level and extending to the .6170, 2022 year low. Failure to hold these will further extend the broader losses from the 2021 year high and see room to the .6100 level, 76.4% Fibonacci level. Would take break of the .6270/.6300 area to open up stronger gains to retrace losses from the September high and see room to resistance at the .6348 low of August then the .6400 level.