Published: 2026-10-20T05:46:00.000Z
Chart AUD/NZD Update: Consolidating, room for lower later
1
Edged up from the 1.2270 low as prices consolidate losses from the 1.2495 current year high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2550 | * | congestion | S1 | 1.2285 | ** | May high | |
| R3 | 1.2490/95 | ** | Sep/14 Oct YTD highs | S2 | 1.2250 | * | congestion | |
| R2 | 1.2400 | * | congestion | S3 | 1.2200 | * | 50% Aug/Oct rally | |
| R1 | 1.2350 | * | congestion | S4 | 1.2150 | * | congestion |
Asterisk denotes strength of level
05:45 GMT - Edged up from the 1.2270 low as prices consolidate losses from the 1.2495 current year high of last week. Daily and weekly studies are unwinding overbought readings and suggest consolidation giving way to renewed selling pressure later to retrace gains from the 1.1915, August low. Break of support at the 1.2285/1.2250 area will see room to 1.2200 congestion and 50% Fibonacci retracement. Meanwhile, resistance remains at the 1.2350 congestion which is expected to cap and sustain losses from the 1.2490/1.2495 double top.