Chart AUD/USD Update: Consolidating, but room for deeper pullback
Break of support at the .6625/00 area has seen extension to reach support at the .6580, 10 September low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6750 | * | congestion | S1 | 0.6580 | * | 10 Sep low | |
| R3 | 0.6700/10 | ** | figure, 38.2% 2021/Apr fall | S2 | 0.6550 | ** | congestion | |
| R2 | 0.6650 | * | congestion | S3 | 0.6500 | * | congestion | |
| R1 | 0.6625 | * | Jul high | S4 | 0.6482 | * | 2 Sep low |
Asterisk denotes strength of level
00:15 GMT - Break of support at the .6625/00 area has seen extension to reach support at the .6580, 10 September low. consolidation here see prices unwinding oversold intraday studies but a deeper pullback cannot be ruled out to retrace rally from the .6415 August low. Lower will see room to the strong support at the .6550 congestion. Corrective pullback expected to give way to renewed buying interest later with resistance starting at the .6625 July high then the .6650 congestion. Regaining these needed to clear the way for retest of the .6700/10 resistance and extend gains from the April current year low.