Published: 2025-05-30T13:27:11.000Z
Chart AUD/USD Update: Consolidating - daily studies under pressure
Senior Technical Strategist
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Cautious trade around 0.6450 is giving way to a pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S1 | 0.6400 | * | break level | |
| R3 | 0.6537 | 26 May YTD high | S2 | 0.6360 | break level | |||
| R2 | 0.6500 | * | congestion | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6450 | congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:10 BST - Cautious trade around 0.6450 is giving way to a pullback, as intraday studies turn down, with focus back on support at 0.6400. Daily readings have also turned down and overbought weekly stochastics are under pressure, highlighting room for further losses in the coming sessions. A break below 0.6400 will open up 0.6360. A further close beneath here would turn sentiment outright negative and confirm completion of a multi-week distribution top, as prices then focus on congestion around 0.6300. Meanwhile, resistance is up to 0.6500 and should cap any immediate tests higher.