Published: 2025-01-16T00:13:55.000Z
Chart AUD/USD Update: Extending gains, room to .6170/.6200 resistance
Technical Analyst
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Consolidation below the .6200 level has given way to break higher to extend gains from the .6130 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6200 | * | congestion | |
| R3 | 0.6348/62 | * | Aug/Apr lows | S2 | 0.6170 | * | 2022 year low | |
| R2 | 0.6300 | * | congestion | S3 | 0.6130 | ** | 13 Jan YTD low | |
| R1 | 0.6270 | ** | 2023 year low | S4 | 0.6100 | * | 76.4% 2020/2021 rally |
Asterisk denotes strength of level
00:10 GMT - Consolidation below the .6200 level has given way to break higher to extend gains from the .6130 low to approach the .6250 level. Daily studies are tracking higher from oversold areas and suggest room to the strong resistance at the .6270/.6300 area where reaction can be expected. Break here, if seen, will clear the way for stronger recovery to retrace sharp losses from the September high. Higher will open up room to the previous lows at .6348/.6362. Meanwhile, support is raised to .6200/.6170 area which is expected to underpin and sustain gains from the .6130 low.