Published: 2025-05-09T00:18:57.000Z
Chart AUD/USD Update: Extending rejection from .6514 high
Technical Analyst
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Extending rejection from the .6514 high to reach support at the .6408/00 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6408/00 | ** | Feb high, congestion | |
| R3 | 0.6550 | * | 61.8% Sep/Apr rally | S2 | 0.6345 | * | 24 Apr low | |
| R2 | 0.6500/14 | ** | congestion, 7 May YTD high | S3 | 0.6300 | * | congestion | |
| R1 | 0.6450 | * | Apr high | S4 | 0.6285 | * | 38.2% Apr/May rally |
Asterisk denotes strength of level
00:15 GMT - Extending rejection from the .6514 high to reach support at the .6408/00 area. Daily studies have turned down from overbought readings and suggest room for deeper pullback to correct the strong gains from the April YTD low. Break will open up room to support at the .6355/45 lows. Lower still, will see extension to the .6300/.6285 congestion and 38.2% Fibonacci level. Meanwhile, resistance is lowered to the .6450 high of April and this should cap and sustain losses from the .6500/14 area.