Published: 2024-12-19T00:21:56.000Z
Chart AUD/USD Update: Focus on .6170, 2022 year low
Technical Analyst
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Break of the .6300 level has seen steep dive through the .6270 support to reach the .6200 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6400 | * | congestion | S1 | 0.6200 | * | figure, congestion | |
| R3 | 0.6348 | ** | Aug low | S2 | 0.6170 | ** | 13 Oct 2022 year low | |
| R2 | 0.6300 | * | congestion | S3 | 0.6100 | * | 76.4% 2020/2021 rally | |
| R1 | 0.6270 | ** | Oct 2023 low | S4 | 0.6000 | * | figure |
Asterisk denotes strength of level
00:15 GMT - Break of the .6300 level has seen steep dive through the .6270 support to reach the .6200 level. Consolidation here see intraday studies unwinding deep oversold readings. However, further losses not ruled out with focus now on the .6170 the 2022 year low. Negative daily and weekly studies are deep into oversold areas and caution corrective bounce with the 2023 year low at .6270 now resistance. Would need lift over this and the .6300 level to ease the downside pressure and see room for stronger corrective bounce.