Published: 2025-05-14T13:44:47.000Z
Chart AUD/USD Update: Higher in range
Senior Technical Strategist
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Cautious trade has given way to a fresh test higher to congestion resistance at 0.6500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6688 | ** | 7 Nov (m) high | S1 | 0.6400 | * | break level | |
| R3 | 0.6600 | * | congestion | S2 | 0.6360 | break level | ||
| R2 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6500 | * | congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:35 BST - Cautious trade has given way to a fresh test higher to congestion resistance at 0.6500, where unwinding overbought intraday studies are prompting minor reactions. Daily readings have turned mixed/positive, suggesting room for fresh gains. But a close above here is needed to turn sentiment positive and extend April gains initially to the 0.6550 Fibonacci retracement. Meanwihle, support remains at 0.6400 and extends to 0.6360. This range should continue to underpin any immediate setbacks.