Chart AUD/USD Update: Further immediate gains to remain limited
Cautious trade above congestion support at 0.6600 has given way to steady gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.6705 | ** | 17 Sep YTD high | S1 | 0.6600 | ** | congestion | |
| R3 | 0.6700 | ** | 76.4% ret of 2024-2025 fall | S2 | 0.6550 | * | congestion | |
| R2 | 0.6685 | * | 10 Dec (w) high | S3 | 0.6500 | * | congestion | |
| R1 | 0.6650 | congestion | S4 | 0.6440 | ** | 14 Oct (m) low |
Asterisk denotes strength of level
14:30 GMT - Cautious trade above congestion support at 0.6600 has given way to steady gains, with prices currently pressuring congestion resistance at 0.6650. Rising intraday studies and a tick higher in oversold daily stochastics highlight potential for a test above here. But the negative daily Tension Indicator is expected to limit initial scope in consolidation beneath critical resistance at 0.6685 - 0.6700/05. Broader weekly charts are positive. However, a close above here is needed to improve sentiment and extend April gains towards 0.6800. Meanwhile, a break below 0.6600, if seen, should give way to consolidation above further congestion around 0.6550.