Published: 2025-04-14T07:01:50.000Z
Chart AUD/NZD Update: Extending consolidation above 1.0700 low
Technical Analyst
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| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | * | congestion | S1 | 1.0750 | * | congestion | |
| R3 | 1.0933/35 | ** | Dec low, 50% | S2 | 1.0700 | ** | 7 Apr low, congestion | |
| R2 | 1.0910 | * | 21 Mar low | S3 | 1.0670 | * | 2022 trendline | |
| R1 | 1.0850 | * | congestion | S4 | 1.0570 | ** | Feb 2024 year low |
Asterisk denotes strength of level
07:00 GMT - Turned up from the 1.0700 low as prices consolidate losses from the 1.1030 high. Choppy trade expected to give way to renewed selling pressure later to retest the 1.0700 low. Below this will see scope to the trendline from the December 2022 year low at 1.0670. Break here will extend losses from the 2024 year high at 1.1180 and shift focus to the 1.0570, February 2024 year low. Meanwhile, resistance is lowered to the 1.0800/1.0850 congestion area which is expected to cap and sustain losses from the 1.1030 resistance.