Published: 2025-01-15T15:04:15.000Z
Chart AUD/USD Update: Extending gains
Senior Technical Strategist
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Consolidation has given way to the anticipated break above 0.6200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | ** | break level | S1 | 0.6200 | ** | congestion | |
| R3 | 0.6350 | break level | S2 | 0.6131 | * | 13 Jan YTD low | ||
| R2 | 0.6300 | ** | congestion | S3 | 0.6100 | ** | 76.4% ret of 2020-2021 rally | |
| R1 | 0.6274 | * | 20 Dec high | S4 | 0.6000 | ** | figure |
Asterisk denotes strength of level
14:55 GMT - Consolidation has given way to the anticipated break above 0.6200, with prices currently balanced in cautious trade around 0.6230. Daily readings continue to track higher, suggesting room for continuation towards resistance within the 0.6274 - 0.6300 area. But mixed weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, a break back below 0.6200, if seen, will turn sentiment neutral once again and give way to consolidation above support within the 0.6100 - 0.6131 area.