Published: 2026-05-20T07:23:11.000Z
Chart AUD/NZD Update: Threatens deeper pullback from 1.2250 high
2
Leaning lower from the 1.2250 current year high to threaten break of the wedge pattern support at 1.2160
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2345 | * | 61.8% 2011/2020 fall | S1 | 1.2115/00 | ** | 8 May low, congestion | |
| R3 | 1.2300/10 | * | congestion, 2011 yr low | S2 | 1.2050 | ** | congestion | |
| R2 | 1.2250 | ** | 15 May YTD high | S3 | 1.2000 | * | congestion | |
| R1 | 1.2200 | congestion | S4 | 1.1930 | ** | 27 Mar low |
Asterisk denotes strength of level
07:20 GMT - Leaning lower from the 1.2250 current year high to threaten break of the wedge pattern support at 1.2160. Below here will see room for retest of strong support at the 1.2115/00, 8 May low and congestion area. Break here will open up room for deeper pullback to support at the 1.2050/1.2000 area. Meanwhile, resistance at the 1.2200/50 the April and 15 May highs are expected to cap. Clearance will extend strong gains from the April 2025 year low and see room to resistance at the 1.2300 congestion and 1.2345, 61.8% Fibonacci retracement.