Published: 2025-09-03T06:42:27.000Z
Chart AUD/NZD Update: Extending gains
0
-
Consolidation below the 1.1100 level has given way to break to extend gains from the April low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1300 | * | figure | S1 | 1.1100 | * | congestion | |
| R3 | 1.1250 | * | congestion, 76.4% | S2 | 1.1050 | * | congestion | |
| R2 | 1.1180 | ** | Nov 2024 year high | S3 | 1.1000/90 | * | congestion, Jul high | |
| R1 | 1.1150 | * | Jul 202 high | S4 | 1.0920/00 | ** | May high, congestion |
Asterisk denotes strength of level
06:30 GMT - Consolidation below the 1.1100 level has given way to break to extend gains from the April low to turn focus to the 1.1150 and 1.1180, July and November 2024 year highs. Overbought daily and weekly studies suggest reaction at these highs likely and caution corrective pullback towards support at the 1.1050 congestion. Would take break here to open up room for deeper corrective pullback to strong support at 1.1000/1.0990, congestion and July high. Close above the 1.1100 level needed to see extension to retest the critical 1.1150/1.1180, July and November 2024 year highs.