Published: 2025-04-08T13:58:17.000Z
Chart AUD/USD Update: Gains to remain limited
Senior Technical Strategist
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The bounce from the 0.5930 current year low of 7 April has reached 0.6065
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6300 | ** | congestion | S1 | 0.6000 | ** | historic congestion | |
| R3 | 0.6250 | * | break level | S2 | 0.5930 | ** | 7 Apr YTD low | |
| R2 | 0.6200 | ** | congestion | S3 | 0.5700 | * | late-Mar 2020 (w) low | |
| R1 | 0.6127 | 7 Apr high | S4 | 0.5500/05 | ** | March 2020 (y) low |
Asterisk denotes strength of level
14:40 BST - The bounce from the 0.5930 current year low of 7 April has reached 0.6065. Intraday studies are rising, highlighting room for continuation towards 0.6100. But negative daily readings and deteriorating weekly charts are expected to limit any break in renewed selling interest beneath the 0.6127 high of 7 April. Following cautious trade, fresh losses are looked for. A later close below 0.6000 will add weight to sentiment and extend broad losses below 0.5930 towards the 0.5700 weekly low of late-March 2020.