Chart AUD/USD Update: Focus on critical resistance at the 0.6700 Fibonacci retracement
Cautious trade has posted a fresh near-term high at 0.6685
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6800 | * | congestion | S1 | 0.6600 | ** | congestion | |
| R3 | 0.6705 | ** | 17 Sep YTD high | S2 | 0.6550 | * | congestion | |
| R2 | 0.6700 | ** | 76.4% ret of 2024-2025 fall | S3 | 0.6500 | * | congestion | |
| R1 | 0.6685 | 10 Dec high | S4 | 0.6440 | ** | 14 Oct (m) low |
Asterisk denotes strength of level
14:05 GMT - Cautious trade has posted a fresh near-term high at 0.6685, where mixed intraday studies are prompting choppy trade. A tick higher in overbought daily stochastics highlights potential for a test of critical resistance at the 0.6700 Fibonacci retracement and the 0.6705 current year high of 17 September. But the flattening positive daily Tension Indicator is expected to limit any initial tests in consolidation, before rising weekly charts prompt a break. A close above here will improve sentiment and open up a test of critical resistance at 0.6700/05. Meanwhile, support remains down to congestion around 0.6600. A close beneath here would turn sentiment neutral and give way to consolidation above further congestion around 0.6550.