Published: 2025-05-09T13:45:12.000Z
Chart AUD/USD Update: Consolidating - studies under pressure
Senior Technical Strategist
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The anticipated test below 0.6400 has bounced from above further support at 0.6360
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6400 | * | break level | |
| R3 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S2 | 0.6360 | break level | ||
| R2 | 0.6500 | * | congestion | S3 | 0.6300 | ** | congestion | |
| R1 | 0.6440 | * | break level | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
14:40 BST - The anticipated test below 0.6400 has bounced from above further support at 0.6360, as negative intraday studies improve, with prices currently trading around 0.6420. A test of resistance at 0.6440 is possible, but negative daily readings flat overbought weekly stochastics should prompt renewed selling interest around here. In the coming sessions, cautious trade is expected to give way to fresh losses. However, a close below 0.6360 is needed to turn sentiment outright negative and signal a deeper correction of the April-May rally.