Published: 2024-12-18T07:35:55.000Z
Chart AUD/NZD Update: Turned lower from the 1.1050/55 resistance
Technical Analyst
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Settling back from test of the 1.1050/55 congestion and 50% Fibonacci retracement level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1180 | ** | 22 Nov YTD high | S1 | 1.1000 | * | figure, congestion | |
| R3 | 1.1150/55 | * | congestion, Jul high | S2 | 1.0963 | * | 30 Oct low | |
| R2 | 1.1090 | ** | Oct high | S3 | 1.0935/33 | ** | 61.8%, 9 Dec low | |
| R1 | 1.1050/55 | * | congestion, 50% | S4 | 1.0900 | * | congestion |
Asterisk denotes strength of level
07:30 GMT - Settling back from test of the 1.1050/55 congestion and 50% Fibonacci retracement level. Pullback see prices unwinding the overbought intraday and daily studies to weigh on the 1.1000 level. Below this will open up deeper pullback to the 1.0963 support then the 1.0933 low. Break of the latter will extend losses from the 1.1180, November YTD high and see room to the 1.0900 level. Meanwhile, resistance at the 1.1050/55 congestion area expected to cap. Clearance here, but not expected, will see room to retest the 1.1090, October high.