Published: 2026-08-12T14:04:49.000Z
Chart AUD/USD Update: Pushing higher
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Cautious trade has given way to a sharp push higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7300 | ** | congestion | S1 | 0.7050 | * | congestion | |
| R3 | 0.7277 | ** | 6 May YTD high | S2 | 0.7000 | * | congestion | |
| R2 | 0.7200 | ** | congestion | S3 | 0.6950 | congestion | ||
| R1 | 0.7100 | ** | congestion | S4 | 0.6900 | * | congestion |
Asterisk denotes strength of level
14:40 BST - Cautious trade has given way to a sharp push higher, with prices approaching congestion resistance at 0.7100. Overbought daily stochastics could limit any initial tests in consolidation, before the positive daily Tension Indicator and improving weekly charts prompt further gains. A close above 0.7100 will improve sentiment and open up continuation towards 0.7200. Meanwhile, support remains at 0.7050. A close beneath here, if seen, will help to stabilise price action and prompt consolidation above 0.7000.