Published: 2025-06-20T13:44:54.000Z
Chart AUD/USD Update: Consolidating
Senior Technical Strategist
1
The anticipated test of congestion support at 0.6450 has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6668 | ** | 7 Nov (m) high | S1 | 0.6450 | congestion | ||
| R3 | 0.6600 | ** | congestion | S2 | 0.6400 | * | break level | |
| R2 | 0.6550 | ** | 61.8% ret of Sep-Apr fall | S3 | 0.6360 | ** | break level | |
| R1 | 0.6500 | * | congestion | S4 | 0.6300 | ** | congestion |
Asterisk denotes strength of level
14:35 BST - The anticipated test of congestion support at 0.6450 has given way to a bounce, with prices currently balanced beneath congestion resistance at 0.6500. Daily readings continue to point lower, suggesting room for a fresh test of 0.6450. But rising weekly charts should limit any break in renewed buying interest above 0.6400. Meanwhile, a close above the 0.6550 Fibonacci retracement is needed to turn sentiment positive and confirm continuation of April gains, initially to congestion around 0.6600.