Published: 2025-01-09T14:50:46.000Z
Chart AUD/USD Update: Consolidating retest of 0.6170/00 - studies under pressure
Senior Technical Strategist
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Little change, as prices extend cautious trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6200 | ** | congestion | |
| R3 | 0.6350 | break level | S2 | 0.6170 | ** | October 2022 (y) low | ||
| R2 | 0.6300 | ** | congestion | S3 | 0.6100 | ** | 76.4% ret of 2020-2021 rally | |
| R1 | 0.6274 | * | 20 Dec high | S4 | 0.6000 | ** | figure |
Asterisk denotes strength of level
14:45 GMT - Little change, as prices extend cautious trade following the retest of support at congestion around 0.6200 and the 0.6170 year low of October 2022. Oversold intraday studies are flattening, suggesting fresh consolidation, before deteriorating daily readings and negative weekly charts prompt fresh losses. A close below 0.6170 will turn sentiment negative, and extend February 2021 losses towards the 0.6100 Fibonacci retracement. Meanwhile, resistance remains at the 0.6274 high of 20 December and extends to congestion around 0.6300. This area should continue to cap any immediate tests higher.