Published: 2026-03-03T15:06:37.000Z
Chart AUD/USD Update: Under pressure
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Choppy trade has given way to a sharp break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7147/55~ | ** | 12 Feb YTD high; Feb 2023 (y) high | S1 | 0.6950 | minor congestion | ||
| R3 | 0.7100 | break level | S2 | 0.6900 | ** | break level | ||
| R2 | 0.7050 | * | congestion | S3 | 0.6870 | * | 38.2% ret of Nov-Feb rally | |
| R1 | 0.7000 | * | congestion | S4 | 0.6800 | break level |
Asterisk denotes strength of level
14:55 GMT - Choppy trade has given way to a sharp break lower, with prices currently trading around 0.6975. Daily readings are bearish and broader weekly charts are also coming under pressure, highlighting room for fresh losses in the coming sessions. Focus is on minor congestion around 0.6950, with a break opening up stronger support within the 0.6870 Fibonacci retracement and 0.6900 break level. However, already oversold daily stochastics could limit any initial tests of here in short-covering/consolidation. Meanwhile, a close back above congestion resistance at 0.7000 would help to stabilise price action and prompt consolidation beneath 0.7050.