Published: 2026-08-04T00:22:23.000Z
Chart AUD/USD Update: Lower in consolidation
1
Settled back from test of resistance at .7050 as prices consolidate gains from the .6922 low of last week to reach the .7000 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7120 | * | 61.8% May/Jun fall | S1 | 0.7000 | * | figure, congestion | |
| R3 | 0.7100 | ** | congestion | S2 | 0.6950 | * | congestion | |
| R2 | 0.7080 | * | May low | S3 | 0.6922 | ** | 29 Jul low | |
| R1 | 0.7050 | * | congestion | S4 | 0.6900 | * | congestion |
Asterisk denotes strength of level
00:15 GMT - Settled back from test of resistance at .7050 as prices consolidate gains from the .6922 low of last week to reach the .7000 level. Below here will open up room for deeper pullback to support at .6950 congestion which should underpin. Corrective pullback is expected to give way to renewed buying interest later to extend gains from the .6922 low. A later break above .7050 will see room to further retrace the May/June losses to the 50% Fibonacci retracement at .7070. Just above here will see strong resistance coming into play at the .7080/.7100 congestion area.