Chart AUD/USD Update: Leaning lower in range
Cautious trade beneath strong resistance at the 0.7200 Fibonacci retracement is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7400 | ** | historic congestion | S1 | 0.7100 | congestion | ||
| R3 | 0.7280~ | ** | June 2022 high | S2 | 0.7050 | * | congestion | |
| R2 | 0.7220~ | * | 17 Apr YTD high | S3 | 0.7000 | * | congestion | |
| R1 | 0.7200 | ** | 61.8% ret of 2021-2025 fall | S4 | 0.6960 | * | 1 Apr (w) high |
Asterisk denotes strength of level
14:30 BST - Cautious trade beneath strong resistance at the 0.7200 Fibonacci retracement is giving way to a drift lower, as overbought intraday studies unwind, with prices currently trading around 0.7165. Daily readings are also coming under pressure, highlighting room for further losses towards congestion support at 0.7100. But rising weekly charts should limit any initial tests in consolidation. Meanwhile, resistance remains a t 0.7200 and extends to the 0.7220~ current year high of 17 April. A close above here would turn sentiment positive once again and extend April 2025 gains towards the 0.7280~ high of June 2022.