Published: 2025-03-14T06:55:34.000Z
Chart AUD/NZD Update: Consolidating at 1.1000 support, room for break later
Technical Analyst
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Little change, as prices holds steady above the 1.1000 support to consolidate losses from the 1.1100, 3rd March high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1170/80 | ** | Feb, Nov 2024 year highs | S1 | 1.1000 | ** | congestion, Jan YTD low | |
| R3 | 1.1150 | * | Jul 2024 high | S2 | 1.0970 | * | Feb 2024 trendline | |
| R2 | 1.1100 | * | Jan high, congestion | S3 | 1.0950 | * | congestion, 38.2% | |
| R1 | 1.1050 | * | congestion | S4 | 1.0933 | ** | Dec low |
Asterisk denotes strength of level
06:50 GMT - Little change, as prices holds steady above the 1.1000 support to consolidate losses from the 1.1100, 3rd March high. Would take break here to open up room for retest of strong support at the 1.0950/1.0933, 38.2% Fibonacci level and December low. Below the latter will confirm a double top at the 1.1170/1.1180 highs and see deeper pullback to retrace gains from the February 2024 year low. Meanwhile, resistance is lowered to the 1.1050 congestion which is expected to cap and sustain losses from the 1.1100 level.