Published: 2026-06-23T13:33:09.000Z
Chart AUD/USD Update: Extending May losses
2
Cautious trade around 0.7000 has given way to the anticipated break
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7200 | ** | break level, 61.8% ret | S1 | 0.6900 | * | congestion | |
| R3 | 0.7100 | congestion | S2 | 0.6850 | ** | 50% ret of Nov-May rally | ||
| R2 | 0.7050 | * | congestion | S3 | 0.6833 | ** | 30 Mar (m) low | |
| R1 | 0.7000 | * | congestion | S4 | 0.6750 | ** | 61.8% ret of Nov-May rally |
Asterisk denotes strength of level
14:25 BST - Cautious trade around 0.7000 has given way to the anticipated break, with May losses currently trading around 0.6935 in sharp selling interest. Daily readings have ticked lower, highlighting room for continuation to congestion support at 0.6900. But broader weekly charts are also falling, pointing to room for continuation stronger support within the 0.6833 monthly low of 30 March and the 0.6850 Fibonacci retracement. Meanwhile, a close back above congestion resistance at 0.7000, if seen, would help to stabilise sentiment and prompt fresh consolidation beneath further congestion around 0.7050.