Published: 2025-03-10T06:56:35.000Z
Chart AUD/NZD Update: Consolidating above 1.1000 support, room for break later
Technical Analyst
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Steadied at the 1.1000 support as prices consolidate losses from the 1.1170 February high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1170/80 | ** | Feb, Nov 2024 year highs | S1 | 1.1000 | ** | 30 Jan YTD low | |
| R3 | 1.1150 | * | Jul 2024 high | S2 | 1.0970 | * | Feb 2024 trendline | |
| R2 | 1.1100 | * | Jan high, congestion | S3 | 1.0950 | * | congestion | |
| R1 | 1.1050 | * | congestion | S4 | 1.0933 | ** | Dec low |
Asterisk denotes strength of level
06:50 GMT - Steadied at the 1.1000 support as prices consolidate losses from the 1.1170 February high and unwind oversold intraday studies. Consolidation is expected to give way to fresh selling pressure later and break of 1.1000 level will open up room for deeper pullback to the 1.0950 congestion then the 1.0933, December low. Below the latter will confirm a double top at the 1.1170/1.1180 highs and see deeper pullback to retrace gains from the February 2024 year low. Meanwhile, resistance is lowered to the 1.1050 congestion which is expected to cap and sustain losses from the 1.1100 level.