Published: 2025-03-07T00:13:41.000Z
Chart AUD/USD Update: Consolidating, room for higher later
Technical Analyst
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Settled back from the .6364 spike high as prices consolidate rally from the .6200 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6500/15 | * | congestion, 50% | S1 | 0.6300 | * | congestion | |
| R3 | 0.6440 | * | 14 Nov low | S2 | 0.6250 | * | congestion | |
| R2 | 0.6400/15 | ** | congestion, 38.2% | S3 | 0.6187 | ** | 4 Mar low | |
| R1 | 0.6364 | * | 6 Mar high | S4 | 0.6131 | * | Jan low |
Asterisk denotes strength of level
00:10 GMT - Settled back from the .6364 spike high as prices consolidate rally from the .6200 congestion. However, this is expected to give way to renewed buying interest later with scope seen for extension to retest the .6400 congestion then the .6415, 38.2% Fibonacci level. Clearance here will extend the broader gains from the .6087 February YTD low to retrace losses from the September high and see room to .6440. Meanwhile, support is raised to the .6300 congestion which should underpin and sustain rally from the .6187 low.