Chart AUD/NZD Update: Pressure remains on the upside
Limited pullback from the 1.2200 high keep pressure on the upside to sustain bullish gains from the April 2025 year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2350 | * | 61.8% 2011/2020 fall | S1 | 1.2100/50 | ** | congestion | |
| R3 | 1.2300/10 | ** | congestion, 2011 yr low | S2 | 1.2000 | * | figure, congestion | |
| R2 | 1.2200 | ** | 8 Apr YTD high | S3 | 1.1930 | ** | 27 Mar low | |
| R1 | 1.2150 | * | Mar high | S4 | 1.1860 | 4 Mar low |
Asterisk denotes strength of level
07:00 GMT - Limited pullback from the 1.2200 high keep pressure on the upside to sustain bullish gains from the April 2025 year low. Above resistance at the 1.2150 March high will expose the 8 April current year high at 1.2200 to retest. Break here will further extend the bullish gains and see room for extension to resistance at the 1.2300/10 congestion and 1.2350, 61.8% Fibonacci retracement. Meanwhile, support at the 1.2100/1.2050 congestion area should underpin. Only below here will ease the upside pressure and open up room for deeper corrective pullback to support at the 1.2000 figure and 1.1930, 27 March swing low.