Published: 2026-09-08T07:04:00.000Z
Chart AUD/NZD Update: Break to fresh year high
2
Consolidation at the 1.2285 May high has given way to break to extend the broader gains from the March 2020 year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2500 | * | congestion | S1 | 1.2250 | * | congestion | |
| R3 | 1.2450 | * | congestion | S2 | 1.2200 | * | congestion | |
| R2 | 1.2400 | * | congestion | S3 | 1.2130/00 | ** | congestion, 13 Aug high | |
| R1 | 1.2345 | * | 61.8% 2011/2020 fall | S4 | 1.2050 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Consolidation at the 1.2285 May high has given way to break to extend the broader gains from the March 2020 year low. Positive daily and weekly studies keep pressure on the upside and break above 1.2300 see room to target 1.2345. 61.8% Fibonacci level. Higher still, will see scope to 1.2400/50 congestion area where reaction can be expected to daily studies extend into overbought areas. Meanwhile, support is raised to the 1.2250/00 congestion area which should underpin. Below here will open up room for deeper correction to strong support at the 1.2130/1.2100 area.