Published: 2026-05-07T00:26:59.000Z
Chart AUD/USD Update: Consolidating break to fresh year high
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Break above the above the .7228 high of last week has seen extension of the underlying bull trend from the April 2025 year low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7458 | * | 21 Apr 2022 high | S1 | 0.7200 | * | congestion | |
| R3 | 0.7400 | ** | congestion | S2 | 0.7135 | * | 5 May low | |
| R2 | 0.7300 | * | congestion | S3 | 0.7100 | ** | congestion | |
| R1 | 0.7280 | ** | Jun 2022 high | S4 | 0.7000 | ** | figure, congestion |
Asterisk denotes strength of level
00:15 GMT - Break above the above the .7228 high of last week has seen extension of the underlying bull trend from the April 2025 year low before giving way to selling pressure just below resistance at .7280, June 2022 high. Prices has since settled into consolidation but this is expected to give way to further gains later. Higher will see room for extension to the .7300/.7400 congestion. Meanwhile, support is raised to the .7200 level which should underpin. Only below here will ease the upside pressure and see room for consolidation to the strong support at .7135/.7100 area.