Chart AUD/USD Update: Consolidating around resistance at the 0.6700 Fibonacci retracement
The anticipated break above critical resistance at the 0.6700 Fibonacci retracement has met selling interest around 0.6725
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6900 | ** | break level | S1 | 0.6650 | congestion | ||
| R3 | 0.6800 | ** | break level | S2 | 0.6600 | ** | congestion | |
| R2 | 0.6750 | * | congestion | S3 | 0.6550 | * | congestion | |
| R1 | 0.6700 | ** | 76.4% ret of 2024-2025 fall | S4 | 0.6500 | * | congestion |
Asterisk denotes strength of level
09:35 GMT - The anticipated break above critical resistance at the 0.6700 Fibonacci retracement has met selling interest around 0.6725, as intraday studies turn down, with prices currently balanced once again around 0.6700. Overbought daily stochastics are turning down, highlighting room for a test beneath here. But the positive daily Tension Indicator and rising weekly charts are expected to limit any losses in renewed buying interest/consolidation above congestion support at 0.6650. Following cautious trade, fresh gains are looked for. A close back above 0.6700 will improve sentiment and extend April gains initially towards congestion around 0.6750. Beyond here is 0.6800. Meanwhile, an unexpected close below 0.6650 will add weight to sentiment and give way to consolidation above further congestion around 0.6600.