Published: 2025-05-13T00:21:25.000Z
Chart AUD/USD Update: Weighing on the .6355/45 support
Technical Analyst
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Break of the .6400 level see prices extending losses to reach the .6355/45 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6345 | ** | 24 Apr low | |
| R3 | 0.6550 | * | 61.8% Sep/Apr rally | S2 | 0.6300 | * | congestion | |
| R2 | 0.6500/14 | ** | congestion, 7 May YTD high | S3 | 0.6285 | * | 38.2% Apr/May rally | |
| R1 | 0.6450 | * | Apr high | S4 | 0.6215 | * | 50% Apr/May rally |
Asterisk denotes strength of level
00:10 GMT - Break of the .6400 level see prices extending losses to reach the .6355/45 support. Intraday studies are oversold and suggest consolidation here likely before giving way to further losses later. Break here will confirm a top pattern at the .6514 high and see room for deeper pullback to the .6300/.6285 congestion and 38.2% Fibonacci level. Meanwhile, resistance is lowered to the .6400/.6450, February and April high. This area is expected to cap corrective bounce and sustain losses from the .6500/14 area.