Chart AUD/USD Update: Choppy at highs
Little change, as prices extend choppy trade beneath strong resistance at the 0.6550 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6700 | ** | 76.4% ret of Sep-Apr fall | S1 | 0.6500 | * | congestion | |
| R3 | 0.6688 | ** | 7 Nov (m) high | S2 | 0.6450 | congestion | ||
| R2 | 0.6600 | ** | congestion | S3 | 0.6400 | * | break level | |
| R1 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S4 | 0.6360 | ** | break level |
Asterisk denotes strength of level
14:40 BST - Little change, as prices extend choppy trade beneath strong resistance at the 0.6550 Fibonacci retracement. Intraday studies are under pressure, highlighting room for a minor pullback. But positive daily readings are expected to limit any losses in renewed buying interest towards congestion support at 0.6500. Following cautious trade, fresh gains are looked for. A close above 0.6550 would turn sentiment positive and extend April gains towards congestion resistance at 0.6600. Meanwhile, any immediate tests below 0.6500, if seen, should give way to consolidation above further congestion around 0.6450.