Published: 2024-12-20T07:25:11.000Z
Chart AUD/NZD Update: Extending gains
Technical Analyst
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Rebound from the 1.1000 support has seen rally to break resistance at the 1.1050/55 congestion and 50% Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1200 | * | congestion | S1 | 1.1050 | * | congestion | |
| R3 | 1.1180 | ** | 22 Nov YTD high | S2 | 1.1000 | * | figure, congestion | |
| R2 | 1.1150/55 | * | congestion, Jul high | S3 | 1.0963 | * | 30 Oct low | |
| R1 | 1.1090 | ** | Oct high | S4 | 1.0935/33 | ** | 61.8%, 9 Dec low |
Asterisk denotes strength of level
07:30 GMT - Rebound from the 1.1000 support has seen rally to break resistance at the 1.1050/55 congestion and 50% Fibonacci level to extend gains from the 1.0935/33, support and December low. Positive daily studies suggest highlights scope for break of the 1.1090 resistance to open up room for retest of the 1.1150/55, July high. Beyond this will expose the 1.1180, November YTD high to retest. Meanwhile, support is raised to the 1.1050 congestion and this should now underpin and sustain bounce from the 1.1000 level.