Published: 2025-03-07T07:58:48.000Z
Chart AUD/NZD Update: Extending losses
Technical Analyst
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Break of the 1.1050 support extending rejection from the 1.1170 February YTD 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
07:50 GMT - Break of the 1.1050 support extending rejection from the 1.1170 February YTD high. Daily studies remains under pressure and see the 1.1000 support within reach. Below this will turn focus to the strong support at the 1.0950 congestion then the 1.0933, December low. Break of 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.