Published: 2024-12-05T00:18:01.000Z
Chart AUD/USD Update: Turned up in consolidation from .6400 low
Technical Analyst
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Choppy trade above the .6440 November low finally gave way to selling pressure
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600/22 | * | congestion, Sep low | S1 | 0.6400 | * | figure | |
| R3 | 0.6550 | ** | 25 Nov high | S2 | 0.6362 | * | Apr low | |
| R2 | 0.6528 | * | 29 Nov high | S3 | 0.6348 | ** | 5 Aug YTD low | |
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | * | congestion |
Asterisk denotes strength of level
00:10 GMT - Choppy trade above the .6440 November low finally gave way to selling pressure to extend losses from the September high. Bounce at the .6400 level see prices settling into consolidation but the negative daily studies suggest risk for break later to open up the April and August lows at .6362/.6348 to retest. Meanwhile, resistance is lowered to the .6500 level and this extend to the .6528/.6550 lower highs which is expected to cap. Would need to break these to fade the downside pressure open up stronger recovery to retrace losses from the September high.