Chart AUD/USD Update: Testing resistance at the 0.6700 Fibonacci retracement
The anticipated break above critical resistance at the 0.6700 Fibonacci retracement is giving way to consolidation around 0.6710
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6900 | ** | break level | S1 | 0.6650 | congestion | ||
| R3 | 0.6800 | ** | break level | S2 | 0.6600 | ** | congestion | |
| R2 | 0.6750 | * | congestion | S3 | 0.6550 | * | congestion | |
| R1 | 0.6700 | ** | 76.4% ret of 2024-2025 fall | S4 | 0.6500 | * | congestion |
Asterisk denotes strength of level
09:10 GMT - The anticipated break above critical resistance at the 0.6700 Fibonacci retracement is giving way to consolidation around 0.6710, overbought intraday studies turn flat. Daily readings continue to rise and broader weekly charts are positive, highlighting room for further strength in the coming sessions. A close above here will improve sentiment and extend April gains initially towards congestion around 0.6750. Beyond here is 0.6800. Meanwhile, support remains at congestion around 0.6650. An unexpected close beneath here will turn sentiment neutral and give way to consolidation above further congestion around 0.6600.