Published: 2026-05-12T00:16:20.000Z
Chart AUD/USD Update: Still supported above .7200
-
Still supported above the .7200 level to keep pressure on the upside and see scope for retest of .7278/80
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7458 | * | 21 Apr 2022 high | S1 | 0.7200 | * | congestion | |
| R3 | 0.7400 | ** | congestion | S2 | 0.7135 | * | 5 May low | |
| R2 | 0.7300 | * | congestion | S3 | 0.7100 | ** | congestion | |
| R1 | 0.7280 | ** | Jun 2022 high | S4 | 0.7000 | ** | figure, congestion |
Asterisk denotes strength of level
00:10 GMT - Still supported above the .7200 level to keep pressure on the upside and see scope for retest of .7278/80, current year high and June 2022 high. Break here will see room for extension of the gains from the April 2025 year low to target resistance at the .7300/.7400 congestion. However, overbought daily studies and a rising wedge pattern caution corrective pullback. Break of the 7200 level ease the upside pressure and see room for pullback the strong support at .7135/.7100 higher lows, which is expected to underpin.