Published: 2026-08-06T13:36:43.000Z
Chart AUD/USD Update: Test above 0.7050 not sustained
2
The anticipated break above congestion resistance at 0.7050 has been short-lived
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7277 | ** | 6 May YTD high | S1 | 0.7000 | * | congestion | |
| R3 | 0.7200 | ** | congestion | S2 | 0.6950 | congestion | ||
| R2 | 0.7100 | ** | congestion | S3 | 0.6900 | * | congestion | |
| R1 | 0.7050 | * | congestion | S4 | 0.6865 | ** | 30 Jun (m) low |
Asterisk denotes strength of level
14:25 BST - The anticipated break above congestion resistance at 0.7050 has been short-lived, as unwinding overbought intraday studies prompt renewed selling interest around 0.7065 and a pullback to 0.7035. Daily readings continue to rise, however, and broader weekly charts are positive, suggesting any deeper losses should be limited in renewed buying interest/consolidation above congestion support at 0.7000. Following cautious/corrective trade, fresh gains are looked for. A later close back above 0.7050 will help to improve sentiment and extend late-June gains towards 0.7100.