Published: 2025-05-05T00:24:48.000Z
Chart AUD/USD Update: Still limited above .6450 resistance
Technical Analyst
1
Pressure remains on the upside, but gains still limited above the .6450 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6600 | * | congestion | S1 | 0.6345 | * | 24 Apr low | |
| R3 | 0.6550 | * | 61.8% Sep/Apr fall | S2 | 0.6300 | * | congestion | |
| R2 | 0.6500 | * | congestion | S3 | 0.6250 | * | congestion | |
| R1 | 0.6450 | * | 29 Apr high, congestion | S4 | 0.6200 | ** | congestion |
Asterisk denotes strength of level
00:15 GMT - Pressure remains on the upside, but gains still limited above the .6450 congestion. Clearance here will signal a break of the 2-week consolidation pattern and extend gains from the April low and see scope to the .6500 congestion. Below the .6450 resistance will further extend the ranging action around the .6400 level. Support is at the .6345 range low and where break is needed to open up potential for deeper losses to correct rally from the .5913 low and see scope to the .6300/.6250 congestion.